HONG KONG: Hong Kong shares rose 1.6 per cent on Monday, with technology and financial stocks leading the way, as expectations of a United States interest rate hike this year diminished on weaker-than-forecast jobs data.
Shares of Glencore surged as much as 72 per cent before closing up 18 per cent at HK$12.6. On Friday, sources told Reuters the company is in talks to sell a stake in its agricultural assets, encouraging some investors worried about its debt levels.
Macau gambling stocks extended gains from Friday after data showed a smaller drop in casino revenue than the previous month.
Shares of Galaxy EntertainmentBSE -5.00 % jumped 5.3 per cent, Wynn Macau gained 2.7 per cent and Sands China rose 3.4 per cent.
The benchmark Hang Seng index ended at 21,854.5 points, while the China Enterprises Index of Chinese companies listed in Hong Kong, climbed 2 per cent to 9,883.71 points.
Hong Kong’s financial stocks rose nearly 2 per cent, technology stocks climbed 2.5 per cent and property shares gained more than 1 per cent.
China’s markets are closed until October 8 for National Day holidays.
