Hong Kong shares close up 0.2 pct, post 7th straight weekly gain
HONG KONG Oct 19 (Reuters) - Hong Kong shares posted a seventh-straight day of gains on Friday, as investors rotated into laggard growth-sensitive sectors on signs of a stabilising Chinese economy, powering the Hang Seng Index to a seventh-straight weekly gain as well.
The Hang Seng Index closed up 0.2 percent on the day and 2 percent this week at 21,551.8. The China Enterprises Index of the top Chinese listings in Hong Kong ended up 0.5 percent on the day and 3.3 percent this week.
In the mainland, the CSI300 Index finished down 0.2 percent on the day but up 1.2 percent this week at 2,332.5. The Shanghai Composite Index shed 0.2 percent on the day, but it rose 1.1 percent for the week.
* Chinese consumer discretionary names saw some of the bigger percentage gains on the day. Shares of GOME Electrical Appliances, the second-biggest player in the sector, jumped 7 percent in heavy volumes, bringing its gain on the week to 9.5 percent. It is still down almost 50 percent in 2012.
* The Chinese cement sector continued its sharp ascent ahead of third quarter earnings next week. Anhui Conch Cement rose 2.6 percent. It is up 17.8 percent this year, but is still currently trading at a 14 percent discount to its historic forward 12-month price-to-book value, according to Thomson Reuters StarMine. (Reporting by Clement Tan; Editing by Jacqueline Wong)