Share benchmarks hit record highs

The Hang Seng Index and mainland share benchmarks hit record highs yesterday on a ratings upgrade from US investment bank Merrill Lynch and better-than-expected earnings from mainland companies.

The Hang Seng Index rose 2 per cent to close at 23,984, breaking the previous record of 23,578 set on Monday. H shares on the Hang Seng China Enterprises Index also closed at a record high of 14,339. The Shanghai Composite Index closed up 1 per cent, at a record high of 5,219 and the Shenzhen Composite Index closed at 1,458.