Hong Kong: Shares rise robustly on signs of market stability

[HONG KONG] Hong Kong shares produced solid gains on Monday, underpinned by gains in mainland markets plus stability in crude oil prices and the Russian ruble.

The H-share index far outperformed the Hang Seng index as Chinese energy conglomerates listed in Hong Kong rises.

The Hang Seng index rose 1.3 per cent, to 23,408.57 points, while the China Enterprises Index gained 3.0 per cent, to 11,744.02 points.

Among the most actively traded stocks on Hong Kong's main board were Alibaba Pictures Group Ltd, down 3.1 per cent at HK$1.56 Bank Of China, up 3.8 per cent at HK$4.33 and CCT Land Holdings Ltd, down 5.3 per cent at HK$0.02.

Chinese investment flowing from Shanghai into Hong Kong through the mutual market access pilot programme took up 0.37 billion yuan (US$59.50 million) of the 10.5 billion yuan daily quota.

Total trading volume of companies included in the HSI index was 3.0 billion shares.

REUTERS