Hong Kong's benchmark Hang Seng Index staged a huge rebound on Tuesday, up 1,580.45 points or 14.35 percent to close at 12,596.29, after the index made its fifth worst ever single-day percentage loss by 12.7 percent on Monday.
Turnover totaled 66.05 billion HK dollars (8.53 billion U.S. dollars), compared to Monday's 56.83 billion HK dollars (7.34 billion U.S. dollars).
Donald Tsang, the Chief Executive of Hong Kong Special Administrative Region (HKSAR), appointed a 12-member taskforce on Tuesday to deal with the challenges posed by the global financial crisis. He will chair the first meeting of the Task Force on Economic Challenges next Monday while John C Tsang, the Financial Secretary of HKSAR government, will serve as deputy chairman.
"The challenges ahead of us are daunting. The damage that the financial tsunami has inflicted on the global economy has yet to be fully revealed. We need to evaluate the situation, consider ways to respond, identify new opportunities, and ultimately enhance our international competitiveness," Tsang said.
The benchmark Hang Seng Index opened on Tuesday at 11,154.57, 138.73 points or 1.26 percent up, and finished the morning session at 11,691.60, up 675.76 points, or 6.13 percent higher.
Analysts said the index may stage a rebound, but any recovery remains technical in nature.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article