Hong Kong Share Prices Hit 18-month High 　　Hong Kong stocks closed sharply higher Monday with the blue chip Hang Seng Index jumping 221.72 points, or 1.72 percent to 13,127.02. 　　The index hit an 18-month high after Asian shares including Tokyo stocks were broadly firmer in Monday morning trade, with buying focused on telecommunications sector. 　　The market turnover amounted to 8.211 billion HK dollars (1.052 billion U.S. dollars), 6.503 billion HK dollars (833 million U.S. dollars) less than that of last Friday. 　　Brokers said the buying was very selective with Hong Kong Telecom and China Telecom doing quite well. 　　The shares of finance, utilities, properties and commerce and industry all registered strong gains ranging from 97.24 points to 663.20 points. 　　The red chip Hang Seng China-Affiliated Corporations Index dropped 15.97 points, or 1.61 percent, to 973.22 while the H-share index slipped 6.99 points or 1.56 percent to 439.96. 　　The HSI dropped 50.86 points, or 0.39 percent, to open at 12, 854.44 and put on 181.45 points, or 1.41 percent, to close the morning session at 13,086.75. 　　Higher Tokyo stocks encouraged buying shortly after the market opened. The Nikkei 225 average surged 190 points or 1.13 percent to 17,113. Economicnews 1999-04-27 Page2 Full Story in Chinese