Hong Kong stocks close sharply higher

HONG KONG, Dec. 10 (Chinese media) -- Hong Kong stocks rebounded sharply by soaring 824.52 points, or 5.59 percent, to close at 15,577.74 on Wednesday as the market expected China may come up with greater stimulus packages amid latest downbeat producer price index in November.

The benchmark Hang Seng Index rose 192.78 points, or 1.31 percent, to open at the day's lowest 14,946 and widened its gains afterwards, boosted by huge rallies of companies registered in the Chinese mainland.

China's producer price index grew only by 2 percent year on year in November, a worse-than-expected reading many investors speculated will turn into greater economic stimulus package from authorities in the days to come.

Turnover rose to 61.85 billion HK dollars (8 billion U.S. dollars) from Tuesday's 56.93 billion HK dollars (7.35 billion U.S. dollars).