Hong Kong share prices finished slightly firmer yesterday after a late rally led by HSBC pulled the market higher, brokers said.
South China Brokerage vice-chairman Howard Gorges said: 'It's been a little bit choppy but within a fairly narrow range.
'The profit-taking seems to have been well absorbed. Hongkong Bank, after initially being down, was up on the day.' The Hang Seng Index increased 106.62 points, or 0.94 per cent, to close at 11,425.46, boosted by HSBC's 2.26 per cent climb to $226.
On Monday, the index slumped 161.85 points.
ImPac Asset Management analyst Kelvin Tang said: 'Starting from 2.30, there was some strong buying in [HSBC] and Telecom.' Turnover was a relatively thin $7.54 billion, compared with Monday's $14.74 billion.
Lippo Securities director Eugene Law Ka-kin said interest-rate movements were dominating sentiment, with many in the market looking for a cut in the prime rate following the recent easing of interbank rates.
'Investors have been looking very closely at interest rates this week,' Mr Law said.
