Hong Kong shares up on bank earnings

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Shanghai - Hong Kong shares rose on Friday on the back of strong bank earnings, helping the benchmark index have its best weekly performance since mid-February.

The Hang Seng Index closed up 1.1 percent at 22065.53 points.

The China Enterprises Index of the leading offshore Chinese listings in Hong Kong closed up 1.3 percent, contributing to its best weekly performance since the week ending November 22.

Industrial and Commercial Bank of China climbed 1.7 percent after the bank announced a higher-than-expected net profit increase for the fourth quarter.

Hong Kong tech shares clawed back some of Thursday's losses, pulled up by online heavyweight Tencent Holdings Ltd., which followed up the previous day's 6.3 percent tumble with a 2.4 percent gain.

Shares in telecoms equipment maker ZTE rose 3.8 percent after the European Commission said it would no longer pursue an anti-dumping investigation into imports from China of equipment for mobile telecom networks. - Reuters



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