Around the World's Markets: Hong Kong

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STOCKS CLAWED their way to a higher close, with strong buying in China Telecom and Hutchison Whampoa winning the tug-of-war against profit-takers.

The Hang Seng climbed 108.17 points or 0.71 points to 15,393.20. "People ... would rather wait for a move to the downside before they step back in," said one trader. Dealers said foreign funds were still flowing into the market, helping to prevent a steeper slide by stocking up on telecom and Internet plays.