Hong Kong shares outlook

Share prices are expected to open firmer, extending yesterday's gains although sentiment may be somewhat cautious given that the US markets were closed for the Thanksgiving holiday, dealers said.

They said the market is likely to trade in a relatively narrow range of 100-200 points, with telecoms perhaps in focus after further gains overnight in the European markets.

Yesterday, the Hang Seng Index closed up 203.25 points or 2.04% at 10,147.25, off a high of 10,168.91 and a low of 10,082.69, on trade of 7.317 billion hkd.

The Hang Seng London Reference Index was up 7.95 points at 10,155.79.

The Hang Seng November contract was at 10,122 points.

"The Hang Seng Index is expected to see further gains at the open following yesterday's rise on follow-through buying," KGI Securities associate director Ben Kwong said, putting the trading range at 100-200 points.

However, investors may be cautious given the fact that the US markets were closed overnight for the Thanksgiving holiday, with a possibility that some may opt to take quick profits on yesterday's upturn.