Hong Kong Stocks Rally After Pro-Democracy Groups Dominate Polls

(Bloomberg) — Hong Kong stocks climbed after pro-democracy candidates swept the board in district council elections, putting pressure on the city’s government to address issues that have fueled months of protests.

The rose 1.5%. The gain was led by developers and other stocks seen as most sensitive to the demonstrations, which have weighed on the city’s stocks.

Wharf Real Estate Investment and New World Development Co. were among the top performers on Monday, while MTR Corp., which operates the city’s underground railway, rallied 2.6%. The MSCI Hong Kong Index gained 1.8%.

Pro-democracy candidates took at least 278 seats of the 452 up for grabs, according to the South China Morning Post, about seven times more than the pro-government camp. Pro-democracy groups gained control of at least 12 of the 18 district councils after failing to win a majority in any of them four years ago, the report said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.