1.   And the huge valuations are a result of too much money chasing the index stocks lately, he wrote in the July issue of his newsletter.

2.   Forty index stocks rose today and nine fell.

3.   Hopewell Holdings Ltd., the engineering company, posted the biggest gain among index stocks amid speculation a Chinese party may buy a stake in the company.

4.   Only six index stocks rose.

5.   Other key index stocks also rose on the merger news.

6.   Other key index stocks also rose on the news.

7.   Swire Pacific was the biggest gainer among index stocks, after lagging the index by a fifth this year.

8.   That suggests investors expect composite index stocks to rise further.

9.   Traders said investors hunted for value in index stocks, amid concern the selling earlier this week was overdone.

10.   Traders said investors shifted out of index stocks that had already appreciated over the past week into those that were still considered at bargain levels.