Hong Kong stocks up in early trading

October 29th, 2008 - 10:41 am ICT by IANS  

Hong Kong, Oct 29 (DPA) Hong Kong stocks continued their rebound Wednesday after a volatile two days which saw the Hang Seng’s Index record its biggest loss and gain in more than 10 years.The blue-chip index gained 248 points or almost 2 percent in the first 15 minutes of trading Wednesday rising to 12,844 points.

The rebound began Tuesday when bargain hunters pushed the index up by 14.35 percent, its biggest rally in more than 10 years.

This followed the huge sell-off Monday when shares plummeted by 12.7 percent, their biggest one-day fall since the Asian economic crisis in October 1997.

However, analysts said sentiment was still fragile and warned that more volatility could follow as the economic crisis continued.

The Hang Seng Index has lost two thirds of its value since October last year when it reached a peak of almost 32,000 points.

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