Chicago Leads Markets Into Y2K Trading : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Sunday January 2 7:24 PM ET

Chicago Leads Markets Into Y2K Trading

By Daniel Sternoff

NEW YORK (Reuters) - After dodging digital mayhem at the start of the millennium, the world financial system began a key showdown with the Y2K computer bug on Sunday as Chicago futures dealers executed the first major market trades of 2000.

The Chicago Mercantile Exchange (CME) reported a glitch-free start to interest rate, currency and stock index futures trading on its Globex electronic trading system beginning at 5:30 p.m. CST.

``Everything is running smoothly,'' said CME spokesman Bill Burks...


-- Me (, January 02, 2000



HK stocks hit all-time high in first 2000 trading

HONG KONG, Jan 3 (Reuters) - Hong Kong stocks jumped to an all-time high within the first minute of trade on Monday, the first trading day of 2000.

The benchmark Hang Seng Index (^HSI - news) climbed 226.26 points or 1.3 percent to 17,188.36 before 1001 local time (0201 GMT) and edged up to 17,256.34 in the next few minutes.

In the broader market, advances were ahead of declines 228 to 17 and 665 issues were unchanged.

Turnover was HK$1.8 billion in the first 15 minutes of trade compared with HK$1.4 billion at the same time on Thursday.

Traders said smaller cap technology stocks, which dominated trade and drove a months-long rally in late 1999, were holding their place in the spotlight.

``Turnover today will likely be concentrated on technology stocks. I expect this trend to continue for a while but there will be some profit-taking in the next few weeks,'' said Michael Liang, vice president of Asian equities at Daiwa Securities.

Traders said activity in blue chips was relatively quiet as foreign funds and institutional investors still harboured some Y2K concerns.

-- Me (, January 02, 2000.

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