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Hang Seng steers course for record high

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HONG KONG stocks surged over the 12,000 mark for the first time in more than two years last week with the index on course to break its record high set in 1994.

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Investor sentiment was boosted by optimism that interest rates will continue stable.

Stocks advanced across the board with a number of key index counters rising to new historic highs.

The Federal Open Market Committee meeting on September 24 paved the way for a rally in US stocks and bonds, sparking Hong Kong's rally.

Brokers see the market potentially challenging its historic high of 12,201 this week after lower-than-expected jobs figures from the US suggested an interest rate rise could be further away than ever.

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The Hang Seng Index closed the week up 146.12 points at 11,905.51.

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