Hong Kong shares have best day in nearly 3 months, insurers strong

HONG KONG Tue Feb 11, 2014 3:08am EST

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HONG KONG Feb 11 (Reuters) - Hong Kong shares posted their best daily gain in nearly three months on Tuesday, as investors covered short positions in Chinese insurers and energy plays on optimism that Beijing will unveil more plans that could spur earnings growth in some sectors.

The Hang Seng Index closed up 1.8 percent at 21,962.98 points, while the China Enterprises Index of the top Chinese listings in Hong Kong rose 2.5 percent to its highest in almost two weeks. Both had their best daily gain since Nov. 18.

Ping An Insurance Group Co of China Ltd jumped over 5 percent to its highest in almost two weeks, while China Life Insurance surged 4.9 percent in its best day in nearly three months.

China has unveiled a host of policy announcements in recent days seen as favourable to earnings growth for sectors from autos to insurers and infrastructure. The country is set to release a fresh batch of economic data later this week, starting with trade data on Wednesday.

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