HONG KONG, Oct 28 (Reuters) - Hong Kong shares extended gains to close 14.4 percent higher on Tuesday, in their biggest percentage gain in 11 years as volumes picked up in the closing auction ahead of the futures expiry this week.
HSBC Holdings led the charge with a 20 percent rally, recovering after a 25 percent sell-off in the previous two sessions rendered the stock attractive.
The stock closed Tuesday at HK$90.
The benchmark Hang Seng Index .HSI closed up 1580.45 points at 12,596.29 after opening 1.3 percent higher. The main index plunged 12.7 percent on Monday. It has dropped 56 percent so far this year.
Mainboard turnover rose to HK$66.1 billion from HK$56.8 billion on Monday.
The China Enterprises Index .HSCE of top locally listed mainland Chinese companies jumped 13.9 percent to 5,683.06. (Reporting by Parvathy Ullatil; editing by Anne Marie Roantree)
Tuesday, October 28, 2008
HK shares soar 14.4 pct in biggest gain in 11 yrs
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