HSI climbs as investors welcome Netcom debut Liberalisation of mainland forex controls helps sentiment recover after Tuesday's drubbing.

(From South China Morning Post)

Byline: markets report Nichole Chan

The Hong Kong market lacked firm conviction yesterday but took cheer from a strong debut by China Netcom and the prospect of mainland migrants swelling the money flow to the local market through a liberalisation of foreign exchange controls.

In what traders described as a technical rebound from Tuesday's heavy sell-off, the Hang Seng Index gained 0.57 per cent or 78.9 points to 13,824.98, while the H-share index rose 0.65 per cent or 31.45 points to 4,849.99.

Activity remained brisk with $20.98 million worth of shares changing hands.

"The focus of the day remained on debut trade of China Netcom. Other …