* HSI +0.8 pct, CSI300 +0.9 pct
* Hang Seng hits highest level since 2008
* Solar shares lifted after China halts polysilicon imports
* China Mobile leaps on report of messaging service
By Chen Yixin and Pete Sweeney
SHANGHAI, Aug 15 China's stock indexes rose
nearly 1 percent by midday Friday, supported by large-cap
shares, while a surge for China Mobile lifted the Hang Seng
Index to its highest level since May 2008.
At midday, the CSI300 of leading Shanghai and
Shenzhen A-share listings was up 0.9 percent and the Shanghai
Composite Index was ahead 0.8 percent at 2223.39 points.
The Hang Seng Index briefly hit a 75-month high when
it crossed above 24,988.57 points.
The HSI was propelled by index heavyweight China Mobile
, which rose more than 5 percent after official media
reported the state-owned telecom giant would increase investment
in instant messaging service Fetion.
Analysts saw little room for further index rises given
concerns about company results and the Chinese economy. A rally
in mainland shares beginning in July, that saw the CSI300 gain
more than 10 percent at one point, has flattened out following
weak Chinese economic indicators for July.
"Investors are getting cautious after the recent strength in
the local market," said Ben Kwong, head of research and director
of KGI Asia. "The market may consolidate in the short run
waiting for fresh incentives to advance."
For now, investors will focus on major corporate earnings,
Liu Jingde, analyst at Cinda Securities in Beijing, believed
mainland indexes have stabilized after a correction in banking
shares earlier in the week. He said he expected "mild" share
movements in the near future.
Blue-chip shares, including banking and brokerages, were the
biggest index supporters on Friday. Almost all banks and
brokerages shares rose, with Bank of Ningbo Co
climbing 1.3 percent and Guo Yuan Securities Company Limited
jumping 6.2 percent.
Polysilicon-related companies enjoyed a boost after China
announced that it will halt imports of processed polysilicon on
Jiangsu Huasheng Tianlong Photoelectric jumped
5.9 percent by midday and Zhejiang Jingong Science & Technology
CO. rose 1.6 percent.
(Additional reporting by Donny Kwok in HONG KONG; Editing by