Around the World's Markets: Hong Kong

Friday 20 November 1998 00:02 GMT

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STOCKS ended higher on hopes of a local interest rate cut. The Hang Seng rose 99.88 points, or 0.98 per cent, to close at 10,313.30.

Traders bet on a cut of at least 25 basis points when the Hong Kong Association of Banks meets today.

Hopes of a cut were encouraged by the Federal Reserve's quarter point cut in rates on Tuesday. Traders said a larger cut would push the market higher, but warned it would meet resistance if the Nikkei rose to 10,500.

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