Hong Kong stocks close sharply higher

Special Report:Global Financial Crisis

HONG KONG, Feb. 23 (Chinese media) -- Hong Kong stocks extended its early gains

and surged 475.93 points, or 3.75 percent, to close near the day's highest at

13,175.1 on Monday amid reports that the U.S. government could take as much as

25 percent to 40 percent of stake in Citigroup.

Turnover fell slightly to 39.58 billion HK dollars (5.09 billion U.S.

dollars) from Friday's 39.76 billion HK dollars (5.13billion U.S. dollars).

The benchmark Hang Seng Index recovered 78.79 points, or 0.62 percent, to

open at the day's lowest 12,777.96 and extended its gains before closing at

13,175.1, just off the day's highest 13, 207.98.