Around the World's Markets: Hong kong

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STOCKS ROSE, led by Internet shares, on expectations of higher earnings in the new year after the Nasdaq's record. Developers staged a late rally on hopes that lower mortgage rates will fuel sales. Hutchison Whampoa rose as analysts upgraded their earnings forecasts for the conglomerate.

The Hang Seng rose 237.37, or 1.5 per cent, to 15,840.41, its highest close since 20 August 1997. Within the index, 28 stocks rose and five fell.