Around the World's Markets: Hong Kong

THE HANG SENG finished up 0.2 per cent at 13,586.21 as investor appetite for telecoms stocks overcame early selling sparked by a correction on Wall Street.

The index was led by Hutchison Whampoa, up 2.46 per cent; New World Development Ltd, up 10.83 per cent; and Wharf (Holdings) Ltd, up 6.96 per cent. The companies have most to gain from the Hong Kong government's decision to extend its moratorium on new fixed-line telecoms licences.