HONG KONG (Reuters) - Shares of Rusal 0486.HK jumped as much as 17 percent in Hong Kong on Monday to their highest in more than three months after the U.S. Treasury Secretary said the Russian aluminum producer might be removed from a U.S. sanctions list.

The stock rose to HK$2.45 in early trade, its highest since April 10. That outpaced a 0.1 percent fall in the benchmark Hang Seng Index .HSI.

Treasury Secretary Steven Mnuchin said on Friday that the U.S. Treasury is open to removing Rusal from a U.S. sanctions list, adding the objective was “not to put Rusal out of business.”