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Stocks

Hong Kong stocks post best gain in three weeks on bank rally

China Construction Bank, HSBC rally before Fed's keenly awaited rate decision

HONG KONG (Nikkei Markets) -- Hong Kong shares posted their sharpest rally in three weeks on Wednesday, helped by expectations that an interest-rate increase by the U.S. Federal Reserve would help lift bank earnings.

The Hang Seng Index rose 1.5% to 29,222.10, with 45 of its 51 constituents advancing. HSBC Holdings, which has the highest weighting among stocks on the gauge, climbed 2% to HK$79.95, a three-year closing high. China Construction Bank (CCB) was the biggest driver of the benchmark index's point gains, jumping 4.4%.

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