Around the World's Markets: Hong Kong

Wednesday 15 December 1999 01:02 GMT

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HONG KONG stocks closed lower on Tuesday, after selected profit- taking in heavyweight stocks by institutions before they close books for the year-end.

The Hang Seng Index closed down 159.41 points or 0.97 per cent at 16,282.70. "It's just a bit of healthy profit-taking after the recent rise," said Miles Remington, SG Securities' head of Asian sales, adding that some institutions were trying to lock in profits before they closed their books for Christmas.

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