Around the World's Markets: Hong Kong

STOCKS ROSE higher yesterday, buoyed by a pact between Cable & Wireless HKT and Cisco of the US to develop advanced communications services for Hong Kong. The Hang Seng closed up 498.25 at 13,854.88.

Traders said the market was encouraged by hopes of progress in China's World Trade Organisation membership bid, amid rumours of informal US-China talks on the WTO in New Zealand this week in the run-up to the Asia Pacific Economic Co-operation summit.