Around the World's Markets: Hong Kong

THE HANG Seng index closed up 112.49 points at 8,189.25 after brokers tempered initial enthusiasm. The index rose to a high of 8,331.69 before slipping back. After the recent strong rally, most fund managers decided to take profits as they do not believe the index can remain at its current level.

Traders said the market was concerned that the government may start trimming its holdings in blue-chips it bought up when the index stood at 7,800 points.