adminIndex climbed 128,64 points to close at 2 623,37 — its highest finished since August 1 last year — on turnover of HK$62,86 billion (US$8,11 billion).
“The (index) may test 23 000 before the year-end, but there may not be too much further upside from there,” said Ben Kwong, chief operating officer at KGI Asia.
“Given how well the market has performed in the fourth quarter and with holidays approaching, a lot of fund managers may want to lock in profits,” Kwong told Dow Jones Newswires.
US lawmakers are holding talks to avert the huge tax hikes and deep spending cuts slated to come into effect in two weeks, which most economists warn will tip the economy into recession, with global knock-on effects.
However, top Republican lawmaker John Boehner has said he is willing to see taxes rise for people on more than US$1 million — a shift from his previous position of no rises at all.
And President Barack Obama has also said he is willing to see rises for people on more than US$400 000, rather than the US$250 000 he previously wanted.
In Europe, Standard & Poor’s raised Greece’s sovereign debt rating by six notches, citing support for Athens from its eurozone partners, and much reducing fears it will leave the eurozone.
The agency said the move “reflects our view of the strong determination of European Economic and Monetary Union (eurozone) member states to preserve Greek membership in the eurozone”, the agency said. — AFP.
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