HONG KONG stocks climbed on Monday, boosted by robust gains for financial and properties firms, after China's upbeat data pointed to recovery gaining momentum in the world's second-largest economy from the coronavirus crisis.
At the close of trade, the Hang Seng index was up 240.63 points or 1.04% at 23,476.05. The Hang Seng China Enterprises index rose 0.87% to 9,383.4.
The sub-index tracking energy shares rose 1%, while the IT sector rose 1.23%. The financial sector ended 1.86% higher.
HSBC Holdings Plc was the top gainer, jumping 9.22%, while China Unicom Hong Kong Ltd was the biggest loser, down 3.02%.
Profits at China's industrial firms grew, buoyed in part by a rebound in commodities' prices and equipment manufacturing, the statistics bureau said on Sunday.
China's recovery has been gaining momentum as pent-up demand, government stimulus and surprisingly resilient exports propel a rebound.
Leading the gains, the Hang Seng financials ended 1.9% higher, with HSBC Holdings jumping 9.2% after Ping An Insurance increased stake.
Properties firm also rallied, led by China Evergrande Group surging 20.6%.
China Evergrande Group said its debt-cutting measures were working and the Hong Kong bourse had approved its spinoff plan.
China Evergrande Group on Friday night gave a progress update on the IPO plans of its property management and electric vehicle units, indicating they could raise about $7 billion, amid mounting fears of a liquidity crisis.
Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.51%, while Japan's Nikkei index closed up 1.32%.
The yuan was quoted at 6.818 per U.S. dollar at 0834 GMT, 0.06% firmer than the previous close of 6.822.
At close, China's A-shares were trading at a premium of 47.57% over Hong Kong-listed H-shares. - Reuters
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