Most major Asian markets ended higher Monday as metals stocks were bolstered after gold prices rallied to a record.
In Hong Kong, the Hang Seng Index regained some traction by rising 315.55 points, or 1.4%, to 22,771.39, its first jump in five sessions.
Chinese banks in Hong Kong jumped after a researcher under China's State Council reportedly said the Chinese economy was likely to expand more than 10% in the fourth quarter.
Industrial & Commercial Bank of China rose 3.3%, China Construction Bank jumped 4.1% and Bank of China added 1.9% in Hong Kong.
In Hong Kong Taifook Securities Group ended 0.6% higher as trading resumed following news that Haitong Securities was buying a 52.86% stake in the brokerage from NWS Holdings for 1.82 billion Hong Kong dollars ($235 million U.S.), or HK$4.88 a share.
Metals stocks jumped across the region, after spot gold prices jumped to a record $1,167.60 U.S. a troy ounce. The metal was recently traded at $1,165.40, up $14.50 from Friday's New York close.
Shares of Zijin Mining advanced 4.8% in Hong Kong and 2.2% in Shanghai, while Newcrest Mining gained 3.2% and Lihir Gold added 3.4% in Sydney.
Coal producers also gained on rising international coal prices, while base-metal prices also advanced after London Metals Exchange copper prices reportedly crossed $7,000 a metric ton, setting a 2009 high.
China Coal Energy rose 2% in Hong Kong and 0.7% in Shanghai, while Macarthur Coal rose 4.2% in Sydney.
James Hardie Industries, the largest maker of U.S. home siding, surged 6.4% in Sydney after the company posted stronger-than-expected second-quarter net operating profit of $37.6 million U.S.
In Seoul, Hana Financial rose 0.5% after group Chairman Kim Seung-yu said Sunday it was interested in acquiring Korea Exchange Bank. KEB added 1.4%.
Tokyo markets were closed Monday.
CHINA
In Shanghai, the performance was mixed amid investor caution ahead of China's annual economic-planning meeting at the end of this month. CCB shares gained 0.3% and Bank of China added 0.2%, while ICBC slipped 0.2%.
The Shanghai 300 Composite Index slid 11.42 points, or 0.3%, to 3,631.01.
Chinese banks climbed sharply after state-run Shanghai Securities News cited a researcher at the State Council's Development Research Center as saying the country's economic growth will top 10% in the fourth quarter due to a low base of comparison last year.
Among base-metals stocks, Jiangxi Copper advanced 3.5% in Hong Kong and 2.7% in Shanghai
Elsewhere:
Taiwan’s Taiex index gained 4.18 points to 7,687.15
Singapore’s Straits Times index was up 36.34 points, or 1.3%, to 2,797.88
Korea’s Kospi index eased 1.55 points, to 1,619.05
New Zealand’s NZX Index finished 0.65 points lower to 3,112.98
Australia’s S&P/ASX 200 regained 31.20 points, or 0.7%, to 4,685.20
