Around the World: Hong Kong


shares closed below their best levels, reflecting profit- taking in anticipation of further share placements following the recent rise. But the Hang Seng index was still 133.98 higher at 12,543.76.

Cosco Pacific fell 0.30 to HK$5.15, after raising HK$385m, but Hutchison Whampoa rose 0.75 to HK$66 after denying rumours of a share issue. Property shares gained ground, anticipating price increases after the latest land auction. The Hang Seng China Enterprises index rose 11.63 to 450.43.