Around the World's Markets: Hong Kong

HONG KONG blue chip stocks raced on Monday to their first close above 16,000 points since 15 August, 1997, on foreign fund inflows, Friday's Wall Street rally and catch-up buying of laggard property counters.

The Hang Seng Index finished up 328.21 points, or 2.07 per cent, at 16,168.62.

"The reality is that there is a lot of money coming in and this money needs to be parked into stocks," said one analyst.