1992 saw record trade turnover and dizzying heights for index
DURING 1992, the Hongkong stock market broke records in trading turnover and cash-raising and the Hang Seng Index was sent to an all-time high.
The index closed at a record high on November 12, at 6,447.11, in the euphoria following the Sino-US trade agreement and the removal of uncertainty surrounding the US presidency.
Turnover for the year edged past the $700 billion mark for the first time.
According to an unofficial figure issued yesterday by a brokerage, turnover was $702.85 billion, double the previous record of $350 billion, set in 1988.
With the stock market bull run at full tilt during 1992, listed companies took the opportunity to tap the market for cash.
A record sum was hauled in from share issues, covered warrant conversions, new listings, rights issues and placements.
