THE bulls appeared to be back in Hong Kong yesterday. Share prices rose for the third straight session, trading volumes strengthened significantly, and gurus were talking the market up to record levels once more.
International investors also appeared to be responding to theories that now is the time for Hong Kong and other Asian markets.
The Hang Seng Index continued its surge to close at 8,796.88 points, up 222.80 points, or 2.60 per cent yesterday.
Turnover was up to $5.18 billion, compared with Tuesday's revised $3.70 billion and the highest since the $5.26 billion of March 27.
It was also the highest close since March 28, at 8,827.93 points. The index has added 464.71 points over the past three days.
Among the most bullish commentators emerging recently is Alan Butler-Henderson, regional strategist with Baring Securities.
In his latest review of Asian markets, he forecasts that the Hang Seng is set to reach a record 14,000 in the last quarter of the year, a 52 per cent gain over the end of April starting date of his calculations.
