Around the World's Markets: Hong Kong

THE HANG SENG Index closed up 186.26 points at 11,914.10, another year's high, on expectations of local interest rate cuts following Thursday's cuts in Europe. Key rates were cut by 0.25 per cent to 8.50 per cent after the market closed.

Traders said the market appeared to well supported at its current levels despite the weak economic fundamentals, and that next week should see the Hang Seng index test the 12,000-point level.