Hong Kong reaches high

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Shanghai - Hong Kong's benchmark index closed at its highest level since November 2010 on Friday, pushed up by index heavyweight China Mobile after official media said the telecom giant would increase investment in instant messaging service Fetion.

The Hang Seng Index ended up 0.6 percent at 24,954.94 points, the highest close since November 8, 2010.

It gained 2.6 percent this week.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was up 0.3 percent for the day and rose 2.5 percent this week.

China Mobile jumped 5.6 percent on Friday.

Most 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, which saw the CSI300 gain more than 10 percent at one point, has flattened out following weak Chinese July economic indicators. - Reuters


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