Hong Kong shares close up 2.5 percent

Hong Kong share prices closed 2.5 per cent higher on Friday, as China-focused companies tracked gains on the mainland bourse and Tokyo, dealers said.

The benchmark Hang Seng Index ended 326.37 points up at 13,554.67 on turnover worth 36.16 bn Hong Kong dollars (4.6 bn US).

Hong Kong shares climbed after China's bourses rose sharply on the prospect Beijing would launch more economic stimulus packages targeted at specific sectors.

The benchmark Shanghai Composite Index ended up 3.2 percent at a five-and-a-half month high of 2,320.79, and the Shenzhen Composite Index rose 3.6 percent to 749.31.

But traders said the Hong Kong market's gains may be short-lived.

Eric Yuen, head of research at Guoco Capital, said the blue-chip index is likely to trade between 13,000 and 14,000 in the near term in the absence of fresh leads.

Among blue chips China Mobile was up 2.9 percent to 74.70 dollars, alumina producer Chalco added 3.3 percent to 4.33 dollars and conglomerate China Resources Enterprise rose 4.5 percent to 12.14 dollars.

Among the blue-chip decliners was Bank of East Asia. It fell 1.1 percent to 16.22 dollars, off an intra-day low of 15.46 dollars, on concerns about last year's earnings.

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