Markets open 2007 with new high

Global equity markets kicked off 2007 with a bang as European shares jumped to their highest level in six years and a number of Asian bourses closed on new highs. Hong Kong, driven upwards by mainland shares, saw the best first day of the year since 2000, the South China Morning Post reported. Chinese stocks listed in Hong Kong rose 2.8%, leading the gains in Asia. The Hang Seng Index topped the psychological 20,000 mark, hitting a new record of 20,310. The HSI climbed 34% in 2006. The H-share index jumped 2.8% or 293.06 points to close at 10,633.42 largely thanks to financial stocks.