Hong Kong: Shares end at one-month high on global gains, China rebound

[SHANGHAI] Hong Kong shares rose to their highest level in over a month Wednesday, in line with gains in most other Asian markets, supported by improved risk appetite and an overnight rally on Wall Street.

A further rebound in mainland China stocks also buoyed investors' confidence.

The Hang Seng index rose 0.5 per cent to 24,578.43 points, the highest level since March 21, while the China Enterprises Index gained 0.4 per cent to 10,317.63.

Financials led the Hong Kong market higher as fund managers bet that banks' balance sheets will improve along with the global economy and on views that the sector's share valuations remain attractive.

An index tracking the financial sector rose 0.8 per cent on Wednesday.

The services sector was also among the top winners, rising 1.9 per cent.

REUTERS