May 2, 2014 / 8:16 AM / 4 years ago

Hong Kong shares avoid a third week of losses as casino, railway stocks rise

HONG KONG, May 2 (Reuters) - Hong Kong shares ended up on Friday, averting a third straight week of losses, as gambling stocks rose on improved revenue and Chinese railway counters jumped on increased infrasture investment plans.

The Hang Seng Index closed up 0.6 percent at 22,260.67 for the day, up 0.2 percent on the week.

The China Enterprises Index of the top Chinese listings in Hong Kong closed up 0.2 percent and flat on the week.

Chinese railway stocks listed in Hong Kong jumped as China increased its railway infrastructure spending target for 2014 to 800 billion yuan ($127.81 billion), sources told Reuters.

China Railway Group Ltd soared 9.3 while China Railway Construction Corp closed up 7.3 percent.

Shares in casino companies rose after Macau gambling revenue grew 10.6 percent in April to 31.3 billion patacas ($3.9 billion), beating estimates..

Wynn Macau Galaxy Entertainment Group Ltd and Sands China gained 4.1 percent, 3 percent and 2.1 percent respectively.

$1 = 6.2593 Chinese Yuan Reporting by Alice Woodhouse; Editing by Richard Borsuk

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