The key Hang Seng index gained 32.96 points to close at 9,613.84, on turnover of HK$4.03 billion (US$517 million).

Dealers said trading was relatively thin on caution over Iraq, and ahead of US Federal Reserve Chairman Alan Greenspan's speech on the US economy before Congress today.

"This looks like a technical rebound after the HSI seemingly confirmed support around the 9,500-point level," said Kenny Tang, associate director at Tung Tai Securities.

Taiwan Securities Vice President Alan Kei said the underlying atmosphere in the market was positive after the index found support at 9,500 points.

"Of course there is still some caution toward developments in Iraq, but it seems like the possibility of Iraq accepting the resolution is quite high," he said.

(China Daily November 13, 2002)