AROUND THE WORLD'S MARKETS: HONG KONG

STOCKS CLOSED higher after mild US inflation data overnight underpinned a solid rise on Wall Street. The Hang Seng closed up 209.94 points or 1.64 per cent at 12,993.10. Although confidence was growing of a US rate rise of only 25 basis points, investors wanted to wait for the Fed meeting next Tuesday to remove uncertainty.

Some investors were waiting for interim profit results from blue chips such as Hutchison Whampoa and Cheung Kong later this month for clues to a corporate profit recovery.