HK stocks close 1.35% higher

Leading by capital inflow, Hong Kong Hang Seng Index rose 268.83 points, or 1.35 percent, to close at 20,251.62 on Monday at a 10-month high, after trading between 20,096.17 and 20,385.69 during the session.

    Turnover fell to 80.90 billion HK dollars (about 10.45 billion U.S. dollars) from Friday's 83.64 billion HK dollars (about 10.80 billion U.S. dollars).

    Traders expected the strong liquidity in the territory to keep providing near-term support to the blue-chip index, which could test 20,500 this week.

    The continued fund inflows have prompted the Hong Kong Monetary Authority to sell a total 33.73 billion HK dollars in the foreign- exchange market since late Friday to maintain the Hong Kong dollar 's peg to the U.S. dollar.

    Local shares rose after a 0.26 percent gain in the Dow Jones Industrial Average on Friday.

    China Mobile led the blue-chip rally, rising 4.2 percent to 80. 35 HK dollars and contributing 76.06 points to the index's rise.

    Aluminum Corp. of China, or Chalco, rose 4.5 percent to 9.22 HK dollars though the company said it expects to swing to a net loss in the first half.

    Investors neglected the warning due to strengthening metals prices and bought the stock amid hopes of a turnaround in profitability in the second half, according to analysts.

    A research note from investment bank ICEA stated that it expected the alumina and aluminum producer to return to a profit in the third quarter and recommended investors accumulate Chalco's Hong Kong-listed shares if they fall back to 6.98 HK dollars

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