At closing bell, the benchmark Hang Seng Index spurted 906.74 points, or 2.24%, to 17,297.94. The Hang Seng China Enterprises Index surged 364.34 points, or 6.2%, to 6,236.72.
Shares of property developers advanced, after China's securities regulator lifted a six-year ban on equity financing to help reverse a slump in the industry. Property developers will be allowed to raise funds from private stock sales and sell shares to fund purchases of real-estate assets, the China Securities Regulatory Commission (CSRC) said. Proceeds can be used to buy existing property projects, replenish working capitals and repay debts. Among developers, China Vanke rose 12% to HK$16.34. Longfor rallied 9.2% to HK$22.65 and Country Garden surged 4.8% to HK$3.06. China Overseas Land and Investment advanced 1.3% to HK$21.15.
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