HONG KONG - Hong Kong's stock market ended higher Monday with the benchmark Hang Seng Index up 2.76 percent to close at 20,414.09 points.

The Hang Seng Tech Index rose 4.3 percent to end at 4,656.8 points while the Hang Seng China Enterprises Index rebounded in the final hour of trading and reversed a small drop to end the day 3.1 percent higher, its biggest gain since Oct 18.

The yield on 10-year government bonds slid five basis points to 1.91 percent. The offshore yuan erased losses to trade 0.1 percent stronger versus the dollar.

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Currencies closely tied to the Chinese mainland economy also advanced, with the Australian dollar rising 0.8 percent and New Zealand’s currency up 0.6 percent.

Europe’s Stoxx 600 benchmark pared an early advance but remained on track for an eighth straight day of gains, the longest streak since May, as investors position for another rate cut by the European Central Bank. Sectors exposed to China like miners and consumer products led the advance, with the basic resources sub-index up 2.6 percent.

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Gold rose after the People’s Bank of China added bullion to its reserves for the first time in seven months. Bullion climbed as much as 0.7 percent to trade near $2,650 an ounce, after the PBOC said Saturday it bought 160,000 fine troy ounces last month.