At closing bell, the benchmark Hang Seng Index surged 3.81%, or 966.04 points, to 26,339.16. The Hang Seng China Enterprises Index added 4.72%, or 483.54 points, to 10,726.83. Both the indexes closed at their highest level since March 5. The sub-index of the Hang Seng tracking energy shares rose 3.9%, while the IT sector rose 1.05%; the financial sector ended 4.85% higher and the property sector rose 4.21%.
Hong Kong markets got a boost on the back of economic recovery optimism after China's state media report published over the weekend said the A-share market had the basis and key elements for a bull market. It cited sound economic fundamentals, capital market reforms and continued fund inflows into Chinese shares. Meanwhile, policy easing and continued reforms in the Mainland China capital markets and a registration-based IPO system for the start-up board, also helped shore up investor confidence.
Aiding the rally, mainland investors purchased about 11.2 billion yuan ($1.59 billion) worth of Hong Kong shares via the Stock Connect.
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