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Sudden late rally: Index closed 10,267.36 (+112.11)
The Tuesday US market opened low due to decline in consumer confidence. The market at a time dipped for around 170 points in DJI but finally closed at 8,680 (-32), while NASDAQ finished at 1,344 (+9). The London Hang Seng Reference Index was last traded at 10,162 (+7).
After the expiration of July futures, today the local market was very quiet. The July futures opened flat at 10,130 (+10) bringing the cash market to open at 10,172 (+17) fifteen minutes later. The market was well supported at the 10,150 level. The morning session closed at 10,177 (+22), half day turnover was only 2.6 bil HK$. There was little change to the market in the afternoon session. Nevertheless at around 3:30 pm strong buying in HSBC and China Mobile was observed. The market finished at 10,267 (+112), total turnover was 5.8 bil HK$.
Indices - 20020731 Last Prev. High Low +/- Open ------ ---- ---- --- --- ---- Cash market (am) 10177 10155 10208 10123 +22 10172 ( 2.6 bil HK$) Cash market (pm) 10267 10281 10123 +112 ( 5.8 bil HK$) Futures (Aug02) : 10191 10120 10240 10072 +71 10130 (Sep ) : 10181 10110 10220 10066 +71 10111 =================== Sub-HSI =================== Finance : 18,986 ( +176) Utilities : 21,695 ( +111) Properties : 13,463 ( +127) Commerce : 4,624 ( +64) HS IT index : 973 ( +3) HS IT Portfolio index : 1,059 ( +20) =================== HS-100 index : 1321.89 ( +10.30) HS China Enterprise index : 2047 ( +25) HS Red Chip (CAC) index : 1124 ( +25) HS Mid CAP 50 index : 1489 ( +14) =================== Japan Nikkei Index (close) : 9,878 (-126) Hang Seng London Reference Index at around 7:30 pm HK time : 10,257 (-10) =================== ----------