MARKETS

Asian Markets Open ’94 Higher: Hong Kong stocks shot up to a record of 12,036 on the Hang Seng index early today, but by midday the index was up a modest 37.69 points from the 1993 close, to 11,926.08. In Singapore, stocks jumped at the opening bell and were trading at new highs in midmorning, with the Straits Times index up 25.38 points to a record 2,451.06. In Kuala Lumpur, Malaysia, the composite stock index was up 7.38 points to a record 1,282.70 in morning trade. Stocks also were modestly higher in Manila and in Seoul. Tokyo and Sydney markets were closed for holidays.