Hawai'i stocks followed Wall Street's rally for the most part, with Central Pacific Financial charting a 33 percent gain.

Stock markets jumped after the Obama administration released plans to buy as much as $1 trillion of distressed assets. The Standard & Poor's 500 gained 7.1 percent to 822.92, the largest increase since Oct. 28, Bloomberg News reported.

The rally spurred gains in financial stocks, with Central Pacific rising $1.89 to $7.54 a share.

Bank of Hawaii climbed $3.11 to close at $35.38.

Maui Land & Pineapple Co. surged by 28 percent, or $2.05 to $9.47.

Other Hawai'i stocks showing gains included:

Barnwell Industries, up 3.5 percent to $3.43.

Hawaiian Holdings, the parent company of Hawaiian Airlines, soared 5.4 percent to $3.14.

Hawaiian Electric Industries rose 5 percent to $14.19.

Among local shares that lost ground were Alexander & Baldwin Inc., which late Friday released disappointing financial guidance for the quarter. Its shares were off 4.7 percent to $19.22.

Hoku Scientific also slipped, falling 4 cents to $2.47 a share.