Around the World's Markets: Hong Kong

STOCKS WERE sharply up on the back of Wednesday's record close on Wall Street and expectations of a local interest-rate cut this Friday.

The blue-chip Hang Seng index ended up over 4 per cent at 10,693.6, while turnover tripled to HK$10.6bn - the highest level since November.

Analysts predicted that a quarter-point cut could push the Hang Seng through the 11,000 level. The prime rate stands at 9 per cent after a 25-basis point cut in December.