HONG KONG, April 3 Hong Kong stocks rose on
Monday, with infrastructure-related stocks surging on news that
Beijing plans to set up a special economic zone in the heavily
polluted province of Hebei.
Mainland markets were closed for a holiday.
The benchmark Hang Seng index, which fell on Thursday
and Friday, gained 0.6 percent to 24,261.48, while the Hong Kong
China Enterprises Index edged up 0.4 percent, to
Shares of China building materials maker BBMG
surged as much as 46 percent to their highest since May 2015,
making it the top performer in Hong Kong.
Energy solution provider LT Smart Energy soared as
much as 70 percent to its highest since April 2015.
China will establish a special economic zone in Hebei
province in order to promote integration with the neighbouring
cities of Beijing and Tianjin, the government announced on
China VAST Industrial Urban Development and
Tianjin Port jumped 20 percent.
Brokers said investors were re-balancing portfolios on the
second quarter's first day of trade with focus on infrastructure
plays in hopes of more favourable policy from Beijing.
Kulun Energy rose 5.6 percent to its highest since
July 2015, while China Shenhua rose 1.8 percent.
Mainland and Hong Kong markets will be closed on Tuesday for
a holiday. Both will reopen on Wednesday.
(Reporting by Donny Kwok; Editing by Richard Borsuk)