Hong Kong Official Says Exchange Could Reopen This Week
Undated (AP) _ The stock exchange’s general committee decided Tuesday to stop trading for the rest of the week after the key index of Hong Kong share prices tumbled 11 percent Monday and Wall Street collapsed later that day.
But the New York Stock Exchange partially rebounded Tuesday and the Tokyo stock market opened strong today after a harrowing plunge on Tuesday.
″If things look right for an earlier opening (of the Hong Kong stock exchange) that is obviously a possibility, but I wouldn’t want to predict anything at this moment in time,″ Financial Secretary Piers Jacobs told reporters today.
Jacobs said the government remained in ″very close contact″ with the stock exchange, which is a private corporation.
A spokeswoman for the exchange, who spoke on condition of anonymity, said there were no immediate plans to resume trading but added that the general committee would meet Thursday afternoon to assess the situation.
Jacobs said that given the strength of the British colony’s economy, which is expected to grow about 12 percent this year, the stock market remains sound.