Hong Kong shares touch highest level since February on Fed surprise

Thu Sep 19, 2013 1:00am EDT
 
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* HSI +1.7 pct, H-shares +1.8 pct, China shut for holiday

* HSI now just over 430 points shy of 2013 high

* Hong Kong property rallies as Treasury yields slide post-FOMC decision

* Gold miners surge as gold prices rebound

By Clement Tan

HONG KONG, Sept 19 (Reuters) - Hong Kong shares jumped to their highest in more than seven months on Thursday, led by gold-related and interest-rate sensitive counters after the U.S. Federal Reserve surprisingly didn't cut its stimulus programme.

Gains came in robust turnover. Sino Land led local property developers up, surging nearly 6 percent. China's largest gold producer Zijin Mining surged 7.1 percent as gold prices rebounded.

"The Hong Kong market will have more gains from here, but its outperformance versus other parts of Asia will be reduced in the next few months," said Erwin Sanft, Standard Chartered's head of Greater China research.   Continued...