Hong Kong stocks close 1.96% higher

HONG KONG, Dec. 15 (Chinese media) -- Hong Kong stocks rose 288.56 points, or 1.96 percent, to close at 15,046.95 on Monday.

Turnover fell to 42.6 billion HK dollars (5.5 billion U.S. dollars) from Friday's 58.77 billion HK dollars (7.59 billion U.S. dollars).

The benchmark Hang Seng Index rose after China said it will increase its money supply next year to stimulate spending and on speculation the U.S. will rescue its automakers.

China Overseas Land and Investment Ltd., controlled by the construction ministry, added 2.7 percent, while China Shipping Development Co. climbed 9.2 percent after shipping tariffs advanced by a record. Hidili Industry International Development Ltd., a coal producer based in Sichuan province, gained 7.7 percent after coal prices rose.

All but four of the 42 index constituents fell, with a measure of property companies leading gains.