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Monday, October 3, 2016, 17:02

Shares rise, boosted by Galaxy Entertainment

By Reuters

Hong Kong stocks rose more than 1 percent on Monday, lifted by gaming shares such as Galaxy Entertainment Group, after the world's biggest casino hub Macau posted a better than expected rise in gambling revenue in September.

Bank of East Asia also helped the rise, with its shares rising 3.5 percent on talk that private equity firm Permira was near a deal to buy the bank's Tricor unit . It was the stock's biggest daily percentage gain since May 17.

The benchmark Hang Seng Index closed up 1.2 percent at 23,584.43 points, while China Enterprises Index gained 1.1 percent to 9,683.37 in a solid start to the fourth quarter.

Activity in China's manufacturing sector expanded again in September, an official survey showed on Saturday, which may indicate that recent positive momentum can be sustained.

Some investors took to the sidelines, with China markets closed for the National Day holiday all week.

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