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Hong Kong shares open sharply higher in rebound after yesterdays tumble


Published : Fri, 20 Apr 2007 03:32
By : Agencies
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HONG KONG (XFN-ASIA) - Share prices opened sharply higher in a rebound after yesterdays sharp drop, with investors hoping that China will take a measured approach as it tries to cool down its economy and ensure a soft-landing, dealers said.

China is widely expected to adopt further macro-economic tightening measures after first-quarter gross domestic product growth and March inflation came in stronger than expected.

The Hang Seng Index opened up 196.12 points or 0.97 pct at 20,495.83.

Mainland property developer Country Garden opened at 7.0 hkd, up 30 pct from its initial public offering price (IPO) of 5.38 hkd on its trading debut.

jun.concepcion@xfn.com

jc/rc

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