ACTIVE trading by overseas and domestic investors on improved sentiment boosted the Hang Seng Index to a new high this year at 9,390.6 points, up 132.42 points, or 1.43 per cent.
Turnover rose to $5.2 billion, compared with Wednesday's revised $4.9 billion.
It was the highest since the index hit 9,427.44 points on November 18, 1994.
Brokers said market sentiment was bullish because investors believed overseas funds would continue to pour in and the upside of the index was strong.
They said the United States economic figures released on Wednesday and a new high in the US bond market was mostly discounted because investors believed US interest rates would ease. Bobby Ho, a dealing manager at GK Goh, said: 'It is just an excuse. There are economic figures every week. More people are believing the market will rise.' Although some sceptics said the market was pushed up by arbitragers, brokers believed genuine buying contributed to the bulk of trading because of the heavy turnover.
But it was natural for the market to be more volatile towards the settlement day, they said.
