STOCKS CLOSE WEAKER IN HONG KONG
Share prices closed weaker but well
above their lows on late bargain hunting in fairly quiet
trading, brokers said.
    The Hang Seng Index lost 15.29 points to end the day at
2,664.70 after falling more than 40 points in late morning. The
Hong Kong Index shed 10.69 to 1,713.81. Turnover was 657.5 mln
H.K. Dlrs against Friday's 694 mln.
    Brokers said sentiment remained bearish despite the late
recovery as the controversy surrounding the issuance of "B"
shares by major corporates still overshadowed the market,
adding that the local prime rate rise also dampened interest.
    Brokers said the market showed little immediate impact from
the suspension of trading in the shares of Wharf, World
International and Hk Realty despite speculation of a
reorganisation. On Friday, Wharf fell five cents to 8.60 dlrs.
    Cheung Kong and Hutchison ended unchanged at 41.75 and 51
dlrs on late support. Jardine Matheson shed 10 cents to 22.40
dlrs, Swire "A" 50 to 21.30 and Hk Bank 10 to 8.30.
    Hk Hotels rose 3.50 dlrs to 74.50 dlrs in active trading.
    The April Hang Seng Index Futures rose one point to 2,686
with 8,592 lots traded while June gained three to 2,733.
 REUTER
