Monday, 28 January 2013 14:20
HONG KONG: Hong Kong shares climbed 0.39 percent to a 21-month high on Monday as dealers tracked a strong performance in Chinese markets and following a rally on Wall Street.
The benchmark Hang Seng Index rose 91.45 points to 23,671.88 -- its highest since April 2011 -- on turnover of HK$67.50 billion ($8.71 billion).
Optimism about the economic outlook on the mainland fuelled buying while shares were also given a lift after China's two stock exchanges announced plans to increase the number of stocks available for margin trading and short selling, raising hopes for more liquidity.
On Wall Street another set of strong corporate results Friday sent shares surging, having a positive knock-on effect for Asian markets.
The Dow rose 0.51 percent to its best level since October 2007 and the S&P 500 climbed 0.54 percent to finish above 1,500 points for the first time since December 2007, while the Nasdaq added 0.62 percent.