Commodity-linked stocks drag HK shares off highs

HONG KONG, Aug 7 (Reuters) - Hong Kong shares closed up 0.6 percent but off early highs on Thursday, hurt by falls in resources stocks on retreating commodity prices while shipping counters tracked losses in the global freight index.

Local stocks missed the Wall Street-triggered rebound in Asian markets on Wednesday as trading was cancelled due to a severe tropical storm warning.

The Hang Seng Index .HSI unofficially closed up 0.6 percent or 140.33 points at 22,090.08, after opening 2.1 percent higher. The index dropped to 21,915.28 earlier.

Mainboard turnover rose above HK$70 billion ($9 billion) for the first time in two weeks.

Gains were shored up by a rebound in HSBC (0005.HK) and Hang Seng Bank (0011.HK). Rate-sensitive stocks including property plays rose after the U.S. Federal Reserve decided to hold off on raising borrowing rates.

The China Enterprises Index .HSCE of top locally listed Chinese firms dropped 0.2 percent.

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)