Hong Kong shares close at highest in more than 31 months

HONG KONG Mon Dec 2, 2013 3:10am EST

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HONG KONG Dec 2 (Reuters) - Hong Kong shares outperformed mainland Chinese markets in choppy trade on Monday, as non-banking financials surged after China's securities regulator signalled that A-share initial public offering approvals could resume as soon as next month.

The Hang Seng Index ended up 0.7 percent at 24,038.6 points, its highest close since April 21, 2011. The China Enterprises Index of the top Chinese listings in Hong Kong climbed 0.9 percent to close in positive territory on the year for the first time since March.

Turnover in Hong Kong faded in the afternoon, but still improved from Friday, totalling some $7.7 billion.

The CSI300 of the biggest Shanghai and Shenzhen A-share listings ended down 0.8 percent after rising 1.1 percent at one point and was later down 1.7 percent.

Citic Securities surged 10 percent after the China Securities Regulatory Commission announced long-awaited measures intended to streamline the initial public listing process in the mainland, which has not seen a new listing approved since October 2012.

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