Hang Seng Index

25 Years Ago

PUBLISHED : Sunday, 21 March, 1999, 12:00am
UPDATED : Sunday, 21 March, 1999, 12:00am

HONGKONG (March 23): THE graveyard-like Hongkong stock market yesterday struck another sad note as the Hang Seng Index slipped down another seven points to 363.45 - the lowest point for almost two years.

Stock broker's morale crumbled and some of them have given up hope of things picking up. Many of the brokers found that they have no business to do sitting on the exchanges with the total turnover at a meagre $32.52 million to be shared among nearly 1,000 of them. The recent profit announcements put out by some of the bigger listed companies were quite attractive, judged by anyone's standard, but they all failed to inject any sort of excitement into the market.

'Investors are numb and they disregard such news which, in a sensible market, would trigger at least some action,' a broker said.