Shares in Hong Kong finally reverse its three week falling trend following indications from Mainland China that the government is taking steps to boost growth in eh second largest economy in the world.

Traders in the city said that the gains were reported not only in short term securities but also long term only funds due to China stimulus sings as well as lower level of risk from the Eurozone debt crisis. The Hang Seng Index finished in the positive territory today. The index rose 3.1 percent, recording its single best performing day since December 1.

The indices in China also showed signs of recovery and boosted investor confidence. The CSI300 Index4.5 percent, while the Shanghai Composite Index jumped 3.7 percent, recording their best day since 17 January. The China Enterprises Index of the top Chinese listings spiked 4 percent.

The investor sentiment was also boosted by European Central Bank's decision on Thursday to launch a new scheme to buy as many bonds as are required to stabilize the countries that are facing a difficult economic situation. The purchase of bonds by the region's central bank is aimed at reducing the cost of borrowing for some countries.