Global hedge funds that use an equities long-short strategy are growing increasingly bullish on China, evidenced by the heavy pick-up in their purchases of Hong Kong-listed shares, UBS Group said in a note.

Hong Kong’s benchmark stock index climbed as much as 2 per cent on Monday, extending a week-long rally and putting it on course to become the best-performing major index globally in April. After a weak start to the year,

Investing.com-- Hong Kong’s benchmark stock index rose sharply on Monday and was close to entering a bull market, as it marked an extended recovery from over five-year lows hit at the beginning of the year.