Hong Kong shares finish week at fresh 3-year highs as China markets climb

HONG KONG, July 25 Fri Jul 25, 2014 4:11am EDT

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HONG KONG, July 25 (Reuters) - Hong Kong's benchmark share index rose 0.3 percent on Friday, closing at its highest level in more than three years, buoyed by stronger China markets.

The Hang Seng Index shrugged off early losses to end at 24,216.01 points, its highest close since April 11, 2011.

It gained 3.2 percent for the week, the best since the week ended May 16.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong rose 0.5 percent to its highest close since December 13.

The H-share index was up 5.3 percent on the week, its biggest weekly gain in four months.

Some insurers were in focus on Friday.

AIA Group climbed 0.7 percent, after hitting a record high in early trade on strong new business growth in the first half.

Leading losses on the H-share index was New China Life Insurance, which sank 4.0 percent.

Singapore state investor Temasek Holdings said on Friday it had sold all of its remaining shares in the Chinese insurer, on the back of a 27 percent rally in the stock over the past year.

China's index of leading Shanghai and Shenzhen shares posted its biggest weekly gain in over 10 months on Friday, powered by continued strength in blue chips which are seen benefiting from a coming stock exchange connection between Shanghai and Hong Kong. (Reporting by Grace Li; Editing by Kim Coghill)

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