Hong Kong stocks extend gains

January 5th, 2009 - 4:37 pm ICT by IANS  

Hong Kong, Jan 5 (DPA) Hong Kong stocks continued their positive start to 2009 Monday with a second day of gains, rising by almost 3.5 percent.The blue-chip Hang Seng Index climbed 520.5 points, or 3.46 percent, to close at 15,563.31. Turnover was 49.4 billion Hong Kong dollars ($6.37 billion).

Monday’s rise followed a 4.55-percent surge Friday, the first trading day of the year, representing the biggest one-day jump in share prices for more than one month.

The increasing share prices follow a rally on Wall Street Friday and were led by Hong Kong-listed China shares, particularly China Telecom which rose strongly on expectations of the issuance of 3G licences in China.

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