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Hong Kong: Stocks notch best day in a month as protests scale down

Monday, October 6, 2014 - 17:07
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- PHOTO: BLOOMBERG

[HONG KONG] Hong Kong's benchmark index posted its biggest daily gain in more than a month on Monday, as pro-democracy activists scaled down protests and upbeat US jobs data provided some relief over the outlook for the global economy.

In Hong Kong, protesters allowed civil servants to pass through barricades unimpeded, on their way to work at the main government offices. Some banks reopened branches that they had closed during the the mass protests over the past week.

The Hang Seng Index finished up 1.1 per cent at 23,315.04 points, the best one-day gain since Sep 3. The China Enterprises Index of leading offshore Chinese listings in Hong Kong added 0.6 per cent.

Macau casinos rallied as investors bet on a technical rebound in the oversold sector, despite data released at midday showing gambling revenue in the world's biggest gambling hub declined for a fourth consecutive month.

Sands China soared 7.1 per cent, while Galaxy Entertainment Group jumped 6.6 per cent. Both hit their lowest level in more than 13 months on Friday.

Index heavyweights, laid low by across the board selling last week, posted solid gains on Monday. Tencent Holdings climbed 3.2 per cent and HSBC Holdings rose 0.6 per cent. - Reuters