Hong Kong stocks finish slightly higher at midday

October 21st, 2008 - 1:09 pm ICT by IANS  

Hong Kong, Oct 21 (Xinhua) Hong Kong shares opened on a positive note Tuesday following the hopes that China will soon launch measures to boost its economy and markets, but finished slightly higher at the close of the midday session.The benchmark Hang Seng Index rose 293.95 points, or 1.92 percent, to open at 15,616.96 but trimmed its gains on profit-taking moves by investors towards morning closing.

Citic Pacific posted a free fall dive due to the company’s disclosure of potentially huge forex loss worth about $2 billion, off about 46 percent to 7.86 Hong Kong dollars, its lowest level since 1991.

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