Hong Kong stocks closed sharply higher on Monday following the strong rally of the Dow on Friday. The blue-chip index opened up 260 points to 25,994, which marked the day low. It saw its gains widen to 622 points in the afternoon trade and hit a day high of 26,356.
China central government published opinions supporting Shenzhen to build a pioneer demonstration zone of socialism with Chinese characteristics, which boost both China and Hong Kong stock markets.
The Hang Seng Index ended up 557 points or 2.2% to 26,291. The H-share index rose 144 points or 1.5% to 10,109. Turnover increased to HK$96.6 billion from HK$91.5 billion on Friday.
Blue chips rose across the board. HSBC (00005) added 2.6% to HK$57.95. HKEX (00388) bounced 3.2% to HK$252.8. Tencent (00700) rose 3.2% to HK$332.8. China Mobile (00941) inched up 0.3% to HK$66.25. AIA (01299) put on 3% to HK$78.25.
Chinese developers with Shenzhen exposure soared on the news of "pioneer demonstration zone". Shenzhen International (001152) jumped 7.7% to HK$15.06. Shenzhen Investment (00604) spiked 11.2% to HK$2.88. Kaisa Group (01638) soared 14% to HK$2.93. KWG Group (01813) surged 6.3% to HK$6.45. Agile Group (03383) shot up 6.4% to HK$10. China Aoyuan (03883) climbed 9.5% to HK$10.4. Sunac China (01918) gained 5.2% to HK$34.45.
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