Hong Kong shares posted its biggest percentage rise this year at the close Tuesday, amid hopes that European policy makers could reach an agreement to control the region's debt crisis.
Hong Kong stocks Tuesday rose 722.75 points, or 4.15 percent, to close at 18,130.55. The benchmark Hang Seng Index traded between 18,136.02 and 17,769.06. Turnover totaled 71.36 billion HK dollars (about 9.15 billion U.S. dollars).
The Hang Seng China Enterprises Index rose 558.82 points, or 6.4 percent, to close at 9,294.33.
All of the for sub-indices gained ground. The Finance sub-index gained the most, rising 4.75 percent, followed by the Commerce and Industry at 4.41 percent. The Properties sub-index gained 2.94 percent, and the Utilities rose 0.16 percent.
Most of the Hang Seng constituents gained ground on Tuesday's trading. Heavyweight HSBC Holdings gained 3.61 percent to 61.70 HK dollars.
Mainland lenders ended up. ICBC gained 9.09 percent to 4.82 HK dollars. Bank of China was up 6 percent to close at 2.65 HK dollars. China Construction Bank rose 5.91 percent to 5.2 HK dollars. With the gaining of 10.12 percent, Ping An became the best performed blue chip on Tuesday, closing at 46.8 HK dollars.
Local developers went up in general. Cheung Kong Holdings, a powerful HK-based developer controlled by billionaire Li Ka-shing, grew 2.95 percent to 89 HK dollars. Sun Hung Kai Properties rose 2.99 percent at 93 HK dollars. Henderson Land gained 2.82 percent to 38.3 HK dollars.
Hong Kong listed unit of China's National Offshore Oil Corporation, CNOOC, gained 7.74 percent to 12.8 HK dollars, PetroChina rose 5.43 percent to 9.52 HK dollars, while Sinopec was up 5.3 percent to 7.55 HK dollars. (1 U. S. dollar equals 7.8 HK dollars)