HK stocks up, HSBC leads on bond insurer rescue news

(Updates to open)

HONG KONG, Feb 25 (Reuters) - Hong Kong stocks paced Wall
Street higher on Monday on news that banks were near an agreement
to bail out bond insurer Ambac Financial in a deal that could
stem further damage to credit markets, boosting shares in HSBC
Holdings (0005.HK: Quote, Profile, Research, Stock Buzz).

The benchmark Hang Seng Index .HSI opened 1 percent higher
at 23,546.10. The China Enterprises Index of Hong Kong-listed
mainland companies .HSCE, or H shares, was up 1.2 percent at
13,500.00.
(Reporting by Rita Chang; Editing by Anne Marie Roantree)