Hong Kong shares shoot up 6.5 per cent in morning trade

Business Materials 19 September 2008 10:37 (UTC +04:00)

Hong Kong shares shot up by 6.5 per cent Friday morning as a roller-coaster week moved towards an end with a strong overnight rally on Wall Street, reported dpa.

The blue-chip Hang Seng Index closed the morning up 1,146.57 points at 18,779.03 points. Turnover was a hefty 62.1 billion Hong Kong dollars (7.97 billion US dollars).

The surge in share prices comes after Wall Street staged one of its biggest one-day rises in months after central banks intervened in global markets to halt their decline.

In an extraordinary day of trading Thursday, Hong Kong shares fell by more than 1,300 points or 7.38 per cent in morning trade before rebounding to end the day just 4.73 points or 0.03 per cent down.