Around the World's Markets: Hong Kong

THE HANG SENG index broke through the 13,000 barrier only to fall back in late trading to close just 276,14 better at 12,766.44 - a net gain of 2.2 per cent, and the highest closing level since the crash of November 1997. Utilities led the gains, ahead of property, finance and then commerce and industry.

The recovery on East Asian stock markets gathered strength with gains of 7 per cent in Jakarta, 5.5 per cent in Manila and 4.4 per cent in Singapore.