Hong Kong  - Hong Kong shares surged more than 2.5 per cent Wednesday to their highest level this year amid growing confidence in the prospects for a global economic rebound.

The blue-chip Hang Seng Index shot up 536.55 points or 2.57 per cent to 21,402.92 points, reversing two days of losses. Turnover was 69.9 billion Hong Kong dollars (9.01 billion US dollars.)

The surge in share prices, led by banks including the Bank of China which rose 4 per cent, took the index to a new 2009 peak after prices crashed to below 12,000 points late last year. (dpa)