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HK shares hit 5-week high; China stocks outperform

For Shanghai market reports click on [.SS]

HONG KONG, March 23 (Reuters) - Hong Kong shares rallied 4.1 percent to a five-week high on Monday as investors cheered the U.S. government’s plan to purge the financial system of up to $1 trillion in toxic assets.

By 0708 GMT the benchmark Hang Seng Index .HSI was up 518.33 points at 13,351.84.

The China Enterprises Index .HSCE of top mainland firms outperformed to rise 5.3 percent to 7,892.40 as the Shanghai Composite Index .SSEC jumped to a five-week high on signs that China may pursue additional stimulus spending.

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)

parvathy.ullatil@thomsonreuters.com; +852 2843-6415

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