Hong Kong shares climb

Hong Kong shares rise on Monday, with technology and financial stocks leading the way.

|||

Hong Kong - Hong Kong shares rose 1.6 percent on Monday, with technology and financial stocks leading the way, as expectations of a United States interest rate hike this year diminished on weaker-than-forecast jobs data.

Shares of Glencore surged as much as 72 percent before closing up 18 percent at HK$12.6. On Friday, sources told Reuters the company is in talks to sell a stake in its agricultural assets, encouraging some investors worried about its debt levels.

Macau gambling stocks extended gains from Friday after data showed a smaller drop in casino revenue than the previous month.

Shares of Galaxy Entertainment jumped 5.3 percent, Wynn Macau gained 2.7 percent and Sands China rose 3.4 percent.

The benchmark Hang Seng index ended at 21,854.5 points, while the China Enterprises Index of Chinese companies listed in Hong Kong, climbed 2 percent to 9,883.71 points.

Hong Kong's financial stocks rose nearly 2 percent, technology stocks climbed 2.5 percent and property shares gained more than 1 percent

China's markets are closed until October 8 for National Day holidays.

REUTERS