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Hong Kong stocks close up Wednesday, spurred by Wall Street's gains on the fourth consecutive session and a continuing flow of funds into the local market.
The Hang Seng index increased 122.75 points, or 1.31 percent, to close at 9,459.14, with a turnover of 7.331 billion HK dollars (US$940 million).
Dealers, however, said gains throughout the session had been capped by concerns that Wall Street may experience a correction after recent gains, prompted by the weaker-than-expected third quarter earnings from Intel and sales at Motorola.
Following the bomb attacks on Bali, Hong Kong market will continue to benefit from the fund inflows.
Of the four sub-indices, Finance, Properties and Commerce & Industry gained 0.99 percent, 0.78 percent and 2.11 percent, but Utilities lost 0.41 percent.
Boosted by the robust GDP growth in the Chinese mainland, China-related enterprises ended higher with the Hang Seng China Enterprises Index rising 2.35 percent and Hang Seng China-Affiliated Corporation Index jumping 2.38 percent.
The technology-heavy GEM index fell 0.22 points, or 0.20 percent, to close at 111.37.
(Xinhua News Agency October 17, 2002)
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