Hang Seng index adds 1.1% on Wednesday

Hong Kong's Hang Seng index climbed higher on Wednesday after IMF raised its global growth forecast for 2012 from 3.3% to 3.5% amid investor speculations China's government will loosen monetary policy Hang Seng index gained 1.06% or 218.42 points and finished at 20,780.73. On the upside European demand dependent Esprit rallied 5.3%. Support came also from energy shares with China Resource Power soaring 3.8% and Cnooc Ltd adding 3.3%. On the downside some property shares including China Resource Land declined.