Hong Kong stocks close 1.26% higher

Hong Kong stocks ended up 1.26 percent on Monday, with the benchmark Hang Seng index rising 291. 94 points to end at 23,408.57 points, after trading between 23,264. 05 and 23,478.90. Turnover totaled 100.98 billion HK dollars ( about 12.98 billion U.S. dollars).
The Hang Seng China Enterprises Index rose 343.83 points, or 3. 02 percent, to close at 11,744.02.
Four sub-indices all gained ground, with the Finance sub-index rising the most by 1.72 percent, followed by the Properties 1.04 percent, the Utility 0.98 percent and the Commerce and Industry 0. 80 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, closed up 0.7 percent to 74.10 HK dollars, while its local unit Hang Seng Bank rose 0.5 percent to 128.30 HK dollars. Local bourse operator HKEX increased 0.80 percent at 172. 00 HK dollars.
Local developers Hang Lung Properties added 0.9 percent to 21. 55 HK dollars. Henderson Land, another major developer in Hong Kong, closed up 1.2 percent to 52.40 HK dollars, and Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, climbed 0.2 percent to 129.70 HK dollars.
As for mainland-based financial stocks, China Construction Bank, the country's second largest bank which accounts for the third largest weighting of the Hang Seng Index, jumped 3.4 percent to 6. 33 HK dollars. ICBC, the world's largest bank by market value, went up 3.4 percent to 5.55 HK dollars. Bank of China advanced 3.8 percent to 4.33 HK dollars.
PetroChina, the country's largest oil and gas producer, was up 4.1 percent to 8.72 HK dollars. (1 U.S. dollar equals 7.761 HK dollars)