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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Hong Kong's main stock index rises 3.5 percent AP - 1 hour 57 minutes ago HONG KONG - Hong Kong's key stock index rose 3.5 percent Monday, lifted by Wall Street's strong finish and hopes for more government measures to boost China's economy. The blue-chip Hang Seng Index gained 520.50 points to 15563.31. Investors were heartened by Wall Street's gains on Friday, when the Dow Jones industrial average jumped nearly 3 percent. Growing optimism that 2009 might see a turnaround in the global economy, fueled by more stimulus talk in China and the U.S., also lifted sentiment. Chinese Premier Wen Jiabao said over the weekend that Beijing would enact new measures to help the steel and auto industries. In the U.S., President-elect Barack Obama urged congressional leaders Saturday to move quickly on recovery measures that aides say could cost as much as $775 billion. "The market is relatively cheap, and with investors hoping for a recovery in the global economy in the second half, it makes sense to buy now before that happens," said Dariusz Kowalczyk, chief investment strategist for SJS Markets. Among the biggest gainers was Foxconn International Holdings, a leading contract mobile phone maker, after Beijing said last week it had approved next-generation mobile licenses. Its shares exploded 25 percent to 3.8 Hong Kong dollars ($0.49) amid speculation that the company would see a windfall in new equipment sales with the rollout of third-generation services. Shippers and energy producers also soared on the back of higher commodities prices. ____ On the Net: Stock Exchange of Hong Kong: http://www.hkex.com.hk Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Hong Kong's main stock index rises 3.5 percentAP - 1 hour 57 minutes ago Foreign investment in Myanmar soarsAP - 2 hours 52 minutes ago China has leeway to adjust monetary policy: senior officialAFP - Tuesday, January 6 Japan auto sales fall to 34-year low in 2008: industry groupAFP - Tuesday, January 6 Related Articles: Business Explosion cuts daily oil output by 12,000 barrelsAP - 32 minutes ago Thai stimulus plans to help prevent deflation - PMReuters - 37 minutes ago China sovereign wealth fund says cash is kingReuters - 37 minutes ago DRAM maker Powerchip seeks to cut costs, sell assetsReuters - 38 minutes ago TOPWRAP 3-U.S. and Germany weigh tax moves, markets cheeredReuters - 42 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US steel industry in collapse, eyes government aid: report Israeli army moves on Gaza City as war toll passes 510 John Travolta's teenage son dies, autopsy planned France leads alarm over Gaza, splits with US Rare Bugatti untouched for 50 years could fetch millions: report View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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