THE Hang Seng Index continued its record run yesterday, breaking through the 7,600-point barrier for the first time, as overseas investors rushed to buy shares in Hong Kong companies.
The buoyant mood in the stock market was further improved when the territory's best-known businessman, Li Ka-shing, announced better-than-expected results from his Cheung Kong (Holdings) property giant.
On the Hong Kong Stock Exchange, shares hit new highs for the fifth day in a row. The Hang Seng Index gained 44.29 points, to close at 7,605.26 - although during the day it had hit 7,615.
The five golden days have seen the index rise by more than 200 points, and with a total gain of almost 38 per cent this year, Hong Kong is now the third best performing major stock market in the world.
Only Finland, up 60 per cent, and Japan, up 57 per cent, have outperformed the local market this year.
Yesterday's record followed a yo-yo day of trading. Early deals saw the Hang Seng rushing up by a further 25 points, before selling by investors anxious to take some profits sent it sliding.