HK shares close off high as resources weigh;HSBC shines

HONG KONG, July 18 (Reuters) - Hong Kong shares ended Friday's volatile session 0.6 percent higher as gains in HSBC Holdings (0005.HK: Quote, Profile, Research) and local blue chips offset losses in resource counters.

Europe's largest bank, HSBC Holdings (0005.HK: Quote, Profile, Research), climbed over 2 percent, leading gainers on the main index after U.S. peer JP Morgan (JPM.N: Quote, Profile, Research) surprised investors with a smaller-than-expected profit decline for the first half. [ID:nN17472235]

But the main index closed off highs as investors focused on expected losses on Wall Street tonight following disappointing earnings from three companies.

Offshore oil producer CNOOC (0883.HK: Quote, Profile, Research) slid more than 2 percent as oil prices held around $130 per barrel on Friday, down more than 10 percent from last week's record.

The Hang Seng Index .HSI unofficially closed up 136.04 points at 21,870.76, after opening 1.3 percent higher. It ended the week down 1.4 percent.

The China Enterprises Index .HSCE of top locally listed mainland stocks fell 0.2 percent. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)



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