Hong Kong stocks close 1.95% higher, Hang Seng Index adds 456.02pts

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HONG KONG: Hong Kong stocks rallied 1.95 % Monday after China’s central bank declared a surprise interest rate cut at the end of last week in a bid to strengthen development.
The Hang Seng Index added 456.02 points to 23,893.14 on turnover of HK$105.25 billion ($13.58 billion).
The benchmark Shanghai Composite Index jumped 1.85 percent, or 46.09 points, to 2,532.88 on turnover of 330.3 billion yuan ($53.9 billion). The close was the highest since September 1, 2011.
The Shenzhen Composite Index, which tracks stocks on China’s second exchange, gained 1.32 percent, or 17.96 points, to 1,377.79 on turnover of 244.7 billion yuan.