Hong Kong shares rose on Friday, helped by a strong showing from AIA Group Ltd and Chinese developers that helped offset weakness in the banking sector.

The Hang Seng Index closed up 0.12 percent at 21,406.86, with a 3.3 percent jump by AIA providing the biggest boost for the benchmark. On the week, however, the index ended slightly lower, snapping a seven-week gaining streak.

The China Enterprises index of top locally listed mainland companies fell 0.21 percent as banks weighed.

On the mainland, the Shanghai Composite Index closed up 1.25 percent at 2,439.63, a six-month high, helped a rally in the property sector.

HIGHLIGHTS:

* AIA Group, Asia's No.3 insurer, rose 3.3 percent in strong volume after the company reported a 40 percent rise in the value of new business for its fiscal full year, and growth in Thailand despite last year's devastating floods. The stock hit a six-month high and was the biggest boost for the Hong Kong benchmark.

* Chinese banks were on the backfoot after mid-sized China Minsheng Banking Corp received regulatory approval to issue 1.65 million new shares in Hong Kong, aimed at helping it boost its capital adequacy ratio.

* Chinese developers and related sector such as cement were strong after speculation about supportive policies for developers and a renewed push for the country's ambitious social housing programme spurred a rally in the real estate sector in Shanghai. China Overseas Land rose 1 percent. - Reuters