Hong Kong - Banking stocks led a resurgence in share prices Monday after the benchmark Hang Seng index in Hong Kong rose 3.1 per cent to post its largest single-day gain since early April. The index closed 658.7 points up at 22,532.9, the highest level since June 25.
HSBC Holdings led the charge, closing 4 per cent up at 124.80 Hong Kong dollars (16 dollars). This followed reports the bank has held talks with a Chinese state-controlled investment fund about a possible investment deal.
The Bank of East Asia rose 3.04 per cent to end the day at 37.40 Hong Kong dollars.
Property stocks also made significant gains after government figures showed the number of homes on the market fell to a record low in the first half of this year.