November 1, 2017 / 8:21 AM / a year ago

Hong Kong stocks have best gain in a month amid optimism on global economy

Nov 1 (Reuters) - Hong Kong stocks started November on a bullish note, jumping the most in nearly a month, as Asian markets hit decade-highs on the back of solid economic growth globally.

Meanwhile, investors shrugged off a private survey showing China’s manufacturing output rose at the weakest pace in fourth months in October.

The Hang Seng index rose 1.2 percent, to 28,594.06, while the China Enterprises Index gained 1.1 percent, to 11,636.49 points.

Sentiment was bullish as Asia shares hit a 10-year high.

U.S. consumer confidence jumped to a near 17-year high in October, with households upbeat about the labour market and business conditions, which could underpin consumer spending and boost the economy in the final three months of 2017.

Recovery in Europe is also picking up momentum.

Most sectors rose in Hong Kong, with IT and telecom shares among the biggest gainers.

An index tracking IT stocks jumped nearly 3 percent, as Chinese tech giant Tencent Holdings hit an all-time record.

The financial sector was also firm, up 1.2 percent. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)

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