Hong Kong shares end down, but China optimism lifts HSI on week

Last Updated: Sat, Dec 08, 2012 18:40 hrs

HONG KONG, Dec 7 (Reuters) - Hong Kong shares eased slightly on Friday but eked out a 0.7 percent gain for the week on the back of a rebound from 2012 lows for China's domestic indices as retail investors returned to the market on signs of an economic recovery.

The Hang Seng Index closed at 22,191.2, a shade below its highest level for the year. The China Enterprises Index rose 0.5 percent on the day and 2.8 percent on the week.

On the mainland, the CSI300 of top Shanghai and Shenzhen-listed stocks rose 2 percent while the Shanghai Composite rose 1.6 percent. The indexes rose 5 percent and 4.1 percent on the week.


* Shares of insurer PICC Group had a strong trading debut in Hong Kong, rising as much as 7.8 percent as retail investors who missed out on the initial public offering bought the stock.

* Cement producers China National Building Materials and Anhui Conch were among the top gainers on the H-shares index rising 4.4 percent and 2.7 percent, respectively.

* According to Citigroup and EPFR data, inflows into China-focused ETFs last week amounted to just under $1 billion, and were the bulk of that period's net inflow into Asia.

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