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Around the World's Markets: Hong Kong

STOCKS CLOSED sharply higher, powered by strong buying interest in market heavyweights, particularly Cable & Wireless HKT and China Telecom (Hong Kong).

The blue-chip Hang Seng index closed up 148.59 points, or 1.10 per cent, at 13,669.70. The two telecoms represented just over 20 per cent of turnover in the broader market and contributed 170.13 points to the Hang Seng Index. C&W HKT closed up HK$1.10 at HK$19.15, while China Telecom was up HK$1.90 at HK$30.20.