HONG KONG Jan 17 Hong Kong shares closed at
their highest in more than two weeks on Friday, posting weekly
gains that were largely buoyed by a strong showing in Asian
insurer AIA Group and Chinese Internet giant Tencent Holdings.
The Hang Seng Index ended up 0.6 percent on the day
and 1.3 percent on the week at 23,133.4 points, its highest
closing level since Jan. 2.
Tencent jumped 6.4 percent this week to a record
close, while AIA climbed 3.1 percent in its biggest
weekly gain in three months.
The China Enterprises Index of the leading offshore
Chinese listings in Hong Kong slipped 0.2 percent on Friday and
ended flat this week.
Investors eschewed the Chinese banking sector amid
tightening concerns in the mainland, manifest this week with the
resumption of initial public offering approvals after more than
a year and fears of a possible trust product default.
China Oilfield Services soared 8 percent on Friday
ahead of the Monday release of its biggest client CNOOC Ltd's
2014 strategy report.
Its H-shares will also see a bigger weightage on the MSCI
Emerging Market index after market close on Jan. 20 and on the
FTSE AW Index after markets shut on Jan. 23.
China Unicom, the country's second-largest mobile
provider, sank 1.9 percent to a six-month low on Friday and was
among the top five most shorted stocks for a second session as
bigger rival China Mobile finally launched the iPhone
on its networks on Friday after years of discussions with Apple