IT was a day for the laggards yesterday after having missed out on the market rally of the past two weeks.
Cathay Pacific jumped 50 cents to $10.90 to move the index 8.21 points on expectations that the worst is over for the company.
Some brokers also said the stock jumped on rumours that the Civil Aviation Administration of China (CAAC) was about to increase its stake in Cathay Pacific.
Barclays de Zoete Wedd director K.S. Ng said buying interest was renewed in defensive counters and laggard stocks.
Hongkong Telecom gained 10 cents to $11.50 while Hongkong Electric gained 30 cents to $18.70 to give a combined lift of 6.56 points to the index.
The Hang Seng index reached another high yesterday when it closed the day 32.18 points up at 7,560.97 as buyers continued to pour money into the market, buoyed by the recent good interim and final results of major stocks.