THE Hang Seng Index yesterday chalked up its third record in two weeks with a 58.02-point jump to 6,894.9, on rumours of encouraging developments at the Sino-British talks in Beijing and confirmation that a third round of discussions would be held.
The buoyant sentiment also saw the index break the 6,900-point mark with an intra-day record of 6,915.19 in frantic late-afternoon trade.
The market has gained 143.96 points this week with two rallies sandwiching a day of profit-taking. Brokers said this pattern would probably continue for the next few months, with the index bumpy but on the rise.
On the futures exchange, the May index contract jumped 95 points to 6,905.
Investors were encouraged by speculation that Chinese negotiators might be willing to separate economic issues from political ones. This would be good news for a financing deal on the Chek Lap Kok airport.
''It was an excellent day,'' said Jardine Fleming salesman and director W.K. Wan. ''People believe a third round of talks wouldn't be necessary if there wasn't something to discuss, so a resolution could be close.'' Another rumour was that mortgage requirements might be relaxed from 70 per cent to 80 per cent of the purchase price. This helped the property sub-index jump 145.46 points to 10,727.6.