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Hong Kong stocks dramatically rose over 4 percent Tuesday following Wall Street's recent rebound, with the Telecom shares leading the rise.
The Hang Seng index closed up 370.66 points, or 4.13 percent, at 9,336.39, on a turnover of 8.069 billion Hong Kong dollars (US$1.033 billion).
The market was closed Monday on a public holiday of Chung Yeung Festival.
Dealers said some foreign investors may switch funds out of Southeast Asia after the Bali attacks and into bourses like Hong Kong, which are perceived to be safer havens for investment.
Of the four sub-indices, Finance, Properties and Commerce & Industry gained 2.71 percent, 5.58 percent and 5.86 percent, but Utilities lost 0.06 percent.
China-related enterprises ended higher with the Hang Seng China Enterprises Index rising 0.79 percent and Hang Seng China-Affiliated Corporation Index jumping 5.96 percent.
The technology-heavy GEM index rose 2.81 points, or 2.58 percent, to close at 111.59.
(Xinhua News Agency October 16, 2002)
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