2nd LD Writethru: Hong Kong stocks end record high at 31,983 points

HONG KONG, Jan. 17 (Xinhua) -- Hong Kong stocks closed up 0.25 percent at 31,983.41 points on Wednesday, reaching the highest ever point since Oct. 30, 2007.

The turnover totaled 178.26 billion Hong Kong dollars (about 22.8 billion U.S. dollars) on Wednesday, the 12th successive trading day with a turnover above 100 billion Hong Kong dollars.

Hong Kong stocks broke another record one day ago. The benchmark Hang Seng Index closed up 1.81 percent to 31,904.75 points on Tuesday, hitting a record closing high.

Hong Kong stocks breaking a record that had been in place for more than 10 years reflects the fact that China's economic reforms have achieved initial success and its economic operational risks have been put under effective control, said George Yang, chief macro-economist of Prime China Securities Ltd.

Yang forecasts that Hong Kong stocks will be further promoted by the development of new economy.

Yip Mow Lum, chairman of Bright Smart Securities, said that Hong Kong stocks has been performing impressively this year thanks to a large influx of capital from the Chinese mainland.

He expects the Hong Kong stock market to be further activated this year after Hong Kong Exchanges and Clearing Limited concludes its rule reform to allow economic companies to list dual-class shares here.

Hong Kong stocks' new record came as most other major Asian stocks markets turn lower on Wednesday. Enditem