Blue chips shot higher from the opening bell yesterday as investors showed an eagerness to buy after a rally in the Dow Jones Industrial Average in New York on Friday.
Falling US bond yields also cheered investors, with optimism prevailing that the Federal Reserve will not have to increase interest rates at its May 20 meeting.
BZW (Asia) assistant sales director Julian Ings-Chambers said: 'It is now surprising if you look at what happened in the US. What happens next depends on the bonds.' Property counters were strongest, with some smaller developers playing catch-up with the rest of the market.
The Hang Seng Index rose 317.64 points to 13,399.34, a gain of 2.42 per cent. Since early last month the index has risen more than 1,300 points, or more than 11 per cent.
Volume was also heavy at $14.92 billion, compared with $13.76 billion on Friday.
The leaders board was dominated by blue chips, many of which have lagged the rest of the market.
New World Development was one of the strongest, up 6.12 per cent to $48.50. Henderson Land, Wharf and Wheelock were also up.
