Around the World's Markets: Hong Kong

Click to follow
The Independent Online
STOCKS CLOSED sharply higher after China's central bank governor doused devaluation fears and an overnight rally on Wall Street boosted confidence. The Hang Seng index was up 209.83 points, 2.21 per cent, to close at 9,719.66. Battered China plays took off as investors hunted for bargains: the red-chip index rose 4.93 per cent to 725.57, while the H- share index rose 7.34 per cent to 325.87.

Interbank interest rates fell for the second day, helping to boost bank and property stocks.