Hong Kong shares rose for a third straight session on Thursday, gaining steam from hopes that cooling factory inflation in China could allow more room for stimulus, while property firms surged as worries around China Evergrande Group (3333.HK) eased. ** At the close of trade, the Hang Seng index (.HSI) was up 257.99 points, or 1.08%, at 24,254.86. It has gained 2.05% this week amid a global rally on hopes that the Omicron variant of the coronavirus is less severe than first feared. ** The Hang Seng China Enterprises index (.HSCE) rose 1.58% to 8,657.77. ** The sub-index of the Hang Seng tracking energy shares (.HSCIE) rose 0.5%, while the IT sector (.HSCIIT) climbed 1.37%, and the financial sector (.HSNF) ended 0.3% higher. ** China"s factory-gate inflation cooled slightly in November, potentially giving policymakers some latitude to unleash more stimulus. read more ** The property sector (.HSNP) rose 2.1% and a sub-index tracking mainland developers (.HSMPI) jumped 3.29% as hopes of a managed debt restructuring at developer China Evergrande Group (3333.HK) calmed fears of a messy corporate collapse after it missed a debt payment deadline this week. ** The rights of shareholders and creditors of Evergrande will be "fully respected" based on their legal seniorities, central bank governor Yi Gang said. read more ** Smaller developer Kaisa Group Holdings Ltd (1638.HK) has started work on restructuring its offshore debt worth $12 billion, a source with direct knowledge of the matter said, after it missed a bond payment this week. read more ** Kaisa shares were suspended from trade on Thursday. Evergrande shares rose 4.05% on the day. ** Around the region, MSCI"s Asia ex-Japan stock index (.MIAPJ0000PUS) was firmer by 0.69%, while Japan"s Nikkei index (.N225) closed down 0.47%. ** The yuan was quoted at 6.3438 per U.S. dollar at 08:10 UTC, barely changed from the previous close and near its highest levels since May 2018. Reporting by Andrew Galbraith; Editing by Subhranshu Sahu Our Standards: The Thomson Reuters Trust Principles.