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Hong Kong stocks opened sharply higher following the announcement Friday by U.S. Federal Reserve Board chairman Bernanke that the Fed might launch new measures in September to stimulate the U.S. economy.

News the U.S. Federal Reserve Board is considering further measures to boost the sagging U.S. economy helped Hong Kong sustain its month-ending rally. But Hong Kong blue chips still lost 8.5% in August.

Better-than-expected results by Chinese companies propelled Hong Kong and China stocks higher. But weak turnover was dominated by short-term traders watching the U.S. Federal Reserve Board.

Hope that Europe would solve its debt crisis fueled a relief rally in early trading in Hong Kong following Monday's plunge, but the rally faded in light turnover.