March 13 Hong Kong stocks started the week on an
upbeat note, with an index tracking mainland companies
posting its biggest gain in nearly four months after top Chinese
officials signalled confidence in China's economic health.
The market seems no longer bothered by an almost certain
U.S. rate hike this week, while also shrugging off continued
weakness in oil prices.
The Hang Seng index registered its biggest one-day
rise since Feb. 15, rising 1.1 percent to 23,829.67. The China
Enterprises Index gained 1.9 percent, to 10,258.71
points, its best day since Nov. 22.
Aiding sentiment were comments on Sunday by Li Wei, director
of the Development Research Centre of the State Council, that
the risk of a steep slide in China's economy has reduced. He
also said the economy had moved through an "L-shaped" pattern of
slowing to now "horizontal" growth.
Shares rose across the board, with material and
financial stocks among the biggest gainers.
(Reporting by the Samuel Shen and John Ruwitch; Editing by