Hong Kong close sharply higher in rebound; Country Garden makes strong debut |
|
|
|
Published
:
Fri, 20 Apr 2007 09:39
|
HONG KONG (XFN-ASIA) - Share prices closed sharply higher, rebounding from yesterday's steep decline amid hopes that Chinese authorities will take measured steps to cool down the country's economy, dealers said.They said investors also took note of a recovery on Shanghai's A-share market, which bounced back 3.92 pct after tumbling 4.5 pct yesterday amid worries over possible policy tightening.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.Mainland property developer Country Garden Holdings was in focus as staged a strong debut.The Hang Seng Index closed up 266.88 points or 1.31 pct at 20,566.59, off a low of 20,474.31 and just off the day's high of 20,567.34. For the week, the index is up 225.62 points or 1.1 pct.Turnover today was 63.0 bln hkd.Country Garden closed at 7.27 hkd, up 35 pct from its IPO price of 5.38. It opened at 7.0 hkd.(1 usd = 7.8 hkd)leonora.walet@xfn.comlw/rc
|
|
|
|
Print this Story
Hong Kong shares end morning sharply higher in rebound; Country Garden in focus 