Economic Calendar

Monday, September 8, 2008

Banks lead HK shares to biggest gain in 6 months

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HONG KONG, Sept 8 (Reuters) - Hong Kong shares rose 3.8 percent on Monday, their biggest single-day rally in nearly 6 months, with sentiment towards financials lifted by the federal takeover of troubled U.S. mortgage lenders Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz).

The benchmark Hang Seng Index .HSI unofficially closed up 759.47 points at 20,692.75, rebounding from its lowest finish in 17 months on Friday.

The China Enterprises Index .HSCE of top locally listed mainland Chinese firms gained 3.1 percent.

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)




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