Hong Kong  - Hong Kong stocks staged an astonishing recovery Tuesday, rebounding by 13 per cent just a day after seeing their worst one-day fall for 11 years.

With just under an hour of trading to go, the blue-chip Hang Seng Index was up by 1,432.97 points or 13.01 per cent, at 12,448.81 points, recovering all its losses from the previous day.

The surge in share prices, driven by bargain hunting, came after shares plummeted by 12.7 per cent Monday, their biggest one-day fall since the height of the Asian economic crisis in October 1997.

Analysts called Tuesday's recovery a technical rebound and warned that the index could fall further as the global slump continues in the coming days and weeks. dpa hp tl