Hong Kong stocks close 0.99pc higher

HONG KONG: Hong Kong shares finished 0.99 percent higher Thursday as traders followed a rally on Wall Street that was fuelled by renewed hopes of a US deal to avert the fiscal cliff of tax hikes and spending cuts.

The benchmark Hang Seng Index added 213.91 points to end at 21,922.89 on turnover of HK$54.46 billion ($7.03 billion).

However, Chinese shares fell for a fourth straight day to a fresh four-year low. The benchmark Shanghai Composite Index fell 10.04 points to 1,963.49 on turnover of 49.5 billion yuan ($7.9 billion).

The index finished at its lowest level since January 16, 2009.