Hong Kong shares close 1.97pc higher

HONG KONG: Hong Kong shares rose 1.97 percent Monday, in line with regional markets, as dealers welcomed a report that the International Monetary Fund was planning to hand Italy an $800 billion bailout.

The benchmark Hang Seng Index added 348.33 points to close at 18,037.81 on turnover of HK$41.16 billion ($5.29 billion).

Chinese shares closed up 0.12 percent. The Shanghai Composite Index, which covers both A and B shares, gained 2.81 points to 2,383.03 on turnover of 46.4 billion yuan ($7.3 billion).