Hong Kong stocks opened 368.44 points higher at 17,540.72 on Friday morning, and finally finished at 17,707.01, up 534.73 points or 3.11 percent, as the European Central Bank and Bank of England take measures to prop up the banking sector.
The benchmark Hang Seng Index traded between 17,505.38 and 17, 800.72. Turnover totaled 82.64 billion HK dollars (about 10.62 billion U.S. dollars).
The Hang Seng China Enterprises Index moved up 316.04 points, or 3.69 percent, to close at 8,887.53.
Three of four sub-indices gained ground. The Finance sub-index became the biggest gainer, surging 4.18 percent, followed by the Properties, adding 3.08 percent, and the Commerce and Industry up 2.53 percent. While the Utilities went down 0.37 percent.
Banking giant HSBC, which accounts for the largest weighting of the Hang Seng Index, ended 3.88 percent higher to close at 61.6 HK dollars.
The local unit Hang Seng Bank gained 4.21 percent to 92.75 HK dollars. Bank of East Asia, another Hong Kong's major bank, went up 4.83 percent to close at 24.95 HK dollars. Local bourse operator Hong Kong Exchanges and Clearing surged 8.27 percent to 110 HK dollars.
Mainland bank stocks continued to strengthen. ICBC, the world's largest bank by market value, added 3.63 percent to 4 HK dollars. China Construction Bank gained 2.76 percent to 4.84 HK dollars, and Bank of Communications up 2.74 percent to 4.5 HK dollars, while Bank of China added 4.33 percent to 2.41 HK dollars.
The performance of local Property stocks was eye-catching. Cheung Kong Holding, a powerful HK-based developer controlled by billionaire Li Ka-shing, moved up 3.73 percent to 88.95 HK dollars. Sun Hung Kai Properties ended 1.79 percent higher to 93.95 HK dollars. Henderson Land, another major developer in Hong Kong, added 3.15 percent to 36 HK dollars. Hang Lung Properties also went up 3.08 percent to 23.4 HK dollars.
As for oils shares, the country's largest oil and gas producer PetroChina moved up 0.11 percent to 9.31 HK dollars. China's top refiner Sinopec lose 1.84 percent, to close at 7.49 HK dollars. While the HK-listed unit of China's National Offshore Oil Corporation, CNOOC, ended 4.39 percent higher to 12.84 HK dollars.
Bucking the trend, China Mobile was the worst-performing blue chip in the day, with its shares swung down 3.41 percent to 73.7 HK dollars. (1 U.S. dollar equals 7.784 HK dollars).