Hong Kong stocks rallied on Monday as weak data on the US services sector and slowing wage growth fuelled hopes the Federal Reserve will further slow down its rate of interest rate hikes.

The Hang Seng Index climbed 1.9 percent, or 396 points, to close at 21,388.

The Shanghai Composite Index rose 0.6 percent, or 18 points, to 3,176, while the Shenzhen Composite Index gained 0.7 percent, or 13 points, to 2,054. (AFP)