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    Hong Kong Stock Index Recovers After Volatility


    by NTDTelevision

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    And Hong Kong's Hang Seng stock index has had a volatile week. After four straight days of losses, it's just made a strong rally.

    On Thursday, the Hang Seng Index had its best single-day gains since April 2009. But, following four straight days of losses, this has put the index back at where it stood about two weeks ago.

    Thursday's Hang Seng Index closed up 5.7 percent at 17,172.3 points, while the China Enterprise Index closed up 5.8 percent at 8,571.5 points.

    Financial markets in mainland China are shut for a week-long National Day holiday. But the European debt crisis and fears of an economic slowdown linger.

    [Uwe Parpart, Finance Research Specialist]:
    "As long as there are no significant solutions in those areas this is going to be a hard slog."

    One trader said short selling interest accounted for about 10 percent of turnover at midday—while short selling data hasn't been formally compiled yet, if true this would suggest that the market still faces much volatility. In these times of financial uncertainty, however, that might simply go without saying.