Around the World's Markets: Hong Kong

THE HANG SENG closed 1.65 per cent higher on bargain-hunting to end at 9,817.75 on the first anniversary of Black Thursday when the index fell 1,211.47 points to 9,766.72 before closing at 10,426.30 - close to Friday's levels.

Reports that China's Premier, Zhu Rongji, had said that regional investment companies other than Guangdong-based Gitic were safe boosted sentiment. Institutions bought futures heavily in an attempt to push the index over 10,000 before next week's October contract settlements.