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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (58270)	12/31/2001 3:32:10 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Monday December 31, 2:39 PM Hang Seng closes out grim year with marginal loss By Tay Han Nee sg.biz.yahoo.com HONG KONG (Reuters) - Hong Kong blue chips closed marginally lower in thin trade on Monday, as some investors locked in profits ahead of the New Year holidays as political and economic uncertainties plague global markets. The Hong Kong bourse will not have an afternoon trading session on Monday and will reopen on Wednesday morning. The benchmark index Hang Seng Index of 33 blue chips touched a morning high of 11,451.79 points before dipping 0.3 percent to close at 11,397.21. For the year, the Hang Seng has plunged 24.5 percent, making it the worst performing major Asian market index for 2001, although it has climbed 9.41 percent since the September 11 attacks in the United States. Just six of the 33 Hang Seng constituent stocks closed in positive territory for the year and 23 posted double digit percentage declines. "This year has been really disappointing," said Andrew To, sales director at Tai Fook Securities. While the market was on a downtrend, overall turnover remained extremely thin at HK$1.75 billion (US$224.5 million), lower than the Christmas Eve level of HK$2.1 billion when the market was also opened only for half a day. Despite positive economic data from the U.S. that helped to boost exporters like Li & Fung and Johnson Electric, market watchers remained pessimistic about the health of the global economy. "The investment circle is faced with many problems going into 2002, with the Afghan war still ongoing, the Middle-East crisis and the newly-developed Pakistan-India dispute. On the economic side, the yen is going down, down, down, which exerts a lot of pressure on regional exports," To added. LAST CHANCE PROFIT-TAKING