August 22, 2014 / 8:07 AM / 4 years ago

Hong Kong shares finish higher, helped by Wall Street's record

HONG KONG, Aug 22 (Reuters) - Hong Kong shares rose on Friday, tracking gains in the U.S. after upbeat economic data sparked a record close on Wall Street.

The Hang Seng Index closed up 0.5 percent at 25,112.23 points. It gained 0.6 percent this week.

The China Enterprises Index of the top Chinese listings in Hong Kong slipped 0.4 percent for the week, despite a rise of 1.1 percent on Friday.

Among top index boosts, China Petroleum & Chemical Corp climbed 1.6 percent. It plans a $1.5 billion Hong Kong initial public offering for its oilfield services unit in the first half of 2015, people familiar with the matter told Reuters.

Top percentage losers on the Hang Seng fell on disappointing earnings. China Resources Enterprise sank 5.6 percent, following Thursday’s drop of 2.9 percent, after posting an 8.7 percent decline in first-half net profit.

Li & Fung slid 4.6 percent to a 7-week low after the global sourcing group posted weaker-than-expected core operating profit for the first half. (Reporting by Grace Li; Editing by Richard Borsuk)

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