Around the world's markets: Hong Kong

Thursday 22 October 1998 00:02 BST

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HONG KONG stocks opened the day higher following the rally in Tokyo but then sank again as traders pulled back from further buying.

The Hang Seng rose by 2.49 per cent to 9,882 in early trade, falling back again to close just 0.2 per cent up at 9662.12.

Traders said they were reluctant to chase shares after the market's recent rally and believe the index is unlikely to top 10,000. But they remained encouraged by the recent cut in US interest rates.

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