By Laura He, MarketWatch
HONG KONG (MarketWatch) -- Hong Kong stocks on Monday logged
their biggest daily gain in more than a month, as tensions eased in
the territory as some pro-democracy demonstrators withdrawing from
the protest zones.
The Hang Seng Index advanced 1.1% to 23,315.04, closing higher
for a second straight session. Stocks had been hit recently as
central Hong Kong was clogged by protests against Beijing's plan to
tightly control the election of the territory's chief executive in
2017.
The Hong Kong Monetary Authority said a number of banks had
resumed normal services in the areas affected by the protests, with
only seven branches of seven banks remaining temporarily
closed.
Local lenders bounced back, as index heavyweight HSBC Holdings
PLC recovered 0.6% after eight straight sessions of losses, and
Chong Hing Bank Ltd. advanced 1%. Bank of East Asia Ltd. rose 0.8%,
and BOC Hong Kong (Holdings) Ltd. added 0.6%.
Hong Kong retailers also rebounded, with top winners including
cosmetics vendors Sa Sa International Holdings Ltd. and Bonjour
Holdings Ltd. , up 3.3% and 2.8%, respectively.
Casino stocks rallied after heavy losses at the end of last
week, as Macau's gambling revenues declined by a less-than-expected
11.7% in September from a year ago. Sands China Ltd. surged 7.1%,
Galaxy Entertainment Group Ltd. soared 6.6%, SJM Holdings Ltd.
spiked 5.5%, MGM China Holdings Ltd. jumped 5.2%, and Wynn Macau
Ltd. leapt 4.9%.
Other market movers included Chinese online major Tencent
Holdings Ltd. , climbing 3.2%, and Hong Kong Exchanges &
Clearing Ltd. advancing 2.9%.
Mainland Chinese markets remained closed for the National Day
holidays.
In other Asian markets, Japan stocks also finished higher, with
the Nikkei Average improving by 1.2%, and the broader Topix zooming
1.1% higher. The yen (USDJPY) strengthened to Yen109.39 against the
greenback, compared with Yen109.78 in the previous session.
However, Sydney's S&P/ASX 200 dropped 0.5%, and Seoul's
Kospi Composite Index fell 0.4%.
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