HONG KONG: Hong Kong stocks have finished 1.20 per cent higher as news that Greece had proposed fresh reforms fanned hopes it can end a five-month standoff with creditors and unlock bailout cash.
The benchmark Hang Seng Index added 320.32 points to close at 27,080.85 on turnover of $HK90.57 billion ($A15.04 billion).
Chinese markets were closed on Monday for a public holiday, meaning turnover fell as mainland traders were unable to trade in the city’s exchange via the stock market link.
Investors cheered news that Greece had presented creditors new proposals on reforming its bailout before an emergency European summit on Monday.
The office of Greek Prime Minister Alexis Tsipras described the plan a “mutually beneficial deal”, while it won initial praise from France.
The heads of the 19 eurozone countries will hold an emergency summit in Brussels later on Monday, under pressure to prevent Greece from defaulting on a June 30 debt repayment, which could lead it to crash out of the currency bloc.
In Hong Kong the Hang Seng China Enterprises Index, which tracks Chinese firms listed in the city, ended 1.50 per cent higher.
It plunged 5.7 per cent last week, in line with a 13 per cent crash in Shanghai that was fuelled by liquidity fears and profit-taking after a more than 140 per cent rise over the past year.
