China shares test 2-week high, U.S. hopes lift Hong Kong
* HSI +1.3 pct, H-shares +1.2 pct, CSI300 +0.7 pct
* Onshore indexes could have biggest weekly gains in a month
* Turnover improves, but gains stymied by chart resistance
* Hopes of more trade zone deals lift Shanghai-related A-shares
By Clement Tan
HONG KONG, Oct 11 (Reuters) - China shares touched their highest in more than two weeks early Friday, lifted by official comments on the country's growth, good sales reports by key stocks and rising hopes a U.S. default can be averted.
Hong Kong markets were also buoyed by news from both the mainland and Washington, where President Barack Obama and Republican leaders appeared closer to an agreement.
Gains in both markets came in improved turnover.
At midday, the Hang Seng Index was up 1.3 percent at 23,239.1 points. The China Enterprises Index of the top Chinese listings in Hong Kong gained 1.2 percent, capped by chart resistance at its 200-day moving average.
The CSI300 of the leading Shanghai and Shenzhen A-share listings struggled at a similar technical level, going into the trading break up 0.7 percent. The Shanghai Composite Index climbed 0.9 percent.
Early Friday, both onshore indexes tested their highest since Sept. 24. All four indexes appeared headed for weekly gains, with onshore ones on track for their biggest rises since the week ended Sept. 13.
"Gains are also coming in more robust volumes this morning, which if sustained, will be a positive indicator," said Cao Xuefeng, a Chengdu-based analyst with Huaxi Securities.
Some Shanghai-related counters rose on hopes of more deals in the free trade zone after the official China Securities Journal reported that Shanghai Lujiazui Finance and Trade Zone Development entered an agreement to develop an internet-based financial services platform.
Lujiazui jumped the maximum allowed 10 percent in Shanghai, while Shanghai International Port climbed 3.4 percent. SAIC Motor rose 2 percent after reporting that September sales rose 15.9 percent from a year earlier.
Other counters which earlier this week rose on speculation on free trade zones emerging in Tianjin, Xiamen and Qingdao were broadly weaker. Tianjin Port and Xiamen Airport both sank about 3 percent.
Chinese insurers were lifted by another China Securities Journal report saying the country's industry regulator plans to raise insurers' investment caps on real estate and infrastructure projects.
China Life Insurance rose 1.2 percent each in Hong Kong Shanghai. PICC Group climbed 1.1 percent in Hong Kong.
A new batch of China economic data could start coming out on Friday. September figures for money supply and loan growth are due by Oct. 15, trade data on Oct. 12, inflation on Oct. 14, with third quarter GDP is due Oct. 18.
Growth in China's economy should hold above 7.5 percent in the first nine months of this year, Premier Li Keqiang said on Thursday, in a hint that the nation's third-quarter growth report would not disappoint investors looking for solid expansion.
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