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BUSINESS
May 26, 1992 | From Reuters
Stocks powered through 6,000 points on the Hang Seng index for the first time Monday, propelled by a big interest rate cut and money fleeing Thailand's political crisis, brokers said. Buyers, straining at the leash since banks announced a surprise one-percentage-point cut in the prime rate after the market closed Friday, ran wild after the opening. Within minutes, the blue chip index surged more than 170 points to a high of 6,032.10 before profit takers moved in.
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BUSINESS
May 26, 1992 | From Reuters
Stocks powered through 6,000 points on the Hang Seng index for the first time Monday, propelled by a big interest rate cut and money fleeing Thailand's political crisis, brokers said. Buyers, straining at the leash since banks announced a surprise one-percentage-point cut in the prime rate after the market closed Friday, ran wild after the opening. Within minutes, the blue chip index surged more than 170 points to a high of 6,032.10 before profit takers moved in.
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