The bulls finally had something to celebrate in Hong Kong yesterday as a morning of strong gains turned into an afternoon of dazzling performance after three days of buying on Wall Street convinced investors to jump back into the market.
The Hang Seng Index surged 370.66 points or 4.13 per cent to close at 9,336.39.
'This was a huge day - one of the biggest we've had for a long time,' said Dun Lee, the equity derivatives head at Fimat Futures.
Buying momentum built up through the day as more investors were lured off the benches and bears were forced to cover their shorts in the face of rising prices.
Turnover zoomed to HK$8.05 billion from the daily average of $5.45 billion for the past month.
Market sentiment was given a further boost after it emerged in the morning that the final quarterly release of Tracker Fund units had sold out.