Around the World's Markets: Hong Kong

DATA RELEASED after the close showed Hong Kong's recession to be deepening. The economy shrank 5.2 per cent in the second quarter, according to revised figures, after a 2.8 per cent first-quarter fall. The Hang Seng index closed 43.70 points up at 9,642.75.

HSBC Securities sales manager, Jerry Pang, said trading was largely liquidity- driven and the outlook for the market was improved. However, dealers said the index will struggle to climb above 9,800 points.

State buying spree, page 19

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