Hang Seng Index busts through 28,000-point ceiling for first time in 7 years

The Hang Seng Index rose for the eighth consecutive day on Monday to break the 28,000-mark, closing above it for the first time since December of 2008 and bolstered by an announcement from Beijing that investors could have up to 20 stock accounts at various brokerages, The Wall Street Journal reported. The operator of the exchange, Hong Kong Exchanges & Clearing (0388.HKG) was the biggest gainer on the index, up 19.4% Monday for monthly gains of 56.5% to date. Meanwhile the Shanghai Composite Index finished up 2.2% at 4121.71%.