Hong Kong shares end up on property sector gains

HONG KONG Fri May 23, 2014 4:10am EDT

HONG KONG May 23 (Reuters) - Hong Kong shares finished slightly up on Friday, helped by stocks of Chinese property developers which were buoyed by further signs of relaxation from the housing authorities.

The Hang Seng Index closed up 0.1 percent at 22,965.86 points. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong also added 0.1 percent. Both extended gains from last week and were up 1.1 percent and 1.7 percent this week, respectively.

Bourse volume remained weak despite an outperforming property sector after a report on Thursday by the Shanghai Securities News cited a central government official as saying more cities will ease their housing purchase restrictions.

China Overseas Land & Investment Ltd climbed 5.5 percent and China Resources Land Ltd rose 3.9 percent.

But losses in telecom stocks pulled down the indexes. China Telecom was off 2.0 percent and China Mobile 1.0 percent.

(Reporting by Grace Li; Editing by Jacqueline Wong)