Hong Kong--Hong Kong stocks soared 3.80 percent in post-holiday trading Wednesday, as investors piled into the market after weak US jobs data dampened expectations of an early interest rate increase there.
Dealers also tracked a long-running rally in Shanghai, pushing the benchmark Hang Seng Index -- in its first trading day since Thursday -- 961.22 points higher to close at 26,236.86.
Turnover was a huge HK$250.03 billion ($32.26 billion) as mainland investors used up their daily quota of purchases for the first time since a stock link-up was created between the Hong Kong and Shanghai exchanges.
Shanghai climbed 0.84 percent as the northbound quota in purchases was also used up.
Hong Kong's market reopened after news last week that US jobs growth was much weaker in March than expected.
While the figures hinted at a possible slowdown in the world's top economy, they mean the Fed is unlikely to raise rates in the early summer as had earlier been tipped.
Turnover has surged in Hong Kong since China last month said it would expand the number of domestic fund-management firms allowed to buy stocks in the city through the "Shanghai-Hong Kong Stock Connect" scheme.
The move came after a poor start to the scheme, which was launched to much fanfare in November.
Among Hong Kong's big winners, the Hong Kong exchange surged 12.24 percent to HK$220.00.
Footwear firm Belle International rallied 9.63 percent to HK$10.02 and China Mobile jumped 6.61 percent to HK$109.60.
HSBC climbed 1.87 percent to HK$68.25 and Tencent advanced 3.14 percent to HK$154.50.
In China the benchmark Shanghai Composite Index rose 33.43 points to 3,994.81 points on turnover of 839.2 billion yuan ($137.6 billion).
The market broke 4,000 during intra-day trade for the first time since 2008 as the northbound quota for shares which Hong Kong dealers can buy was used up.
AFP
