Hong Kong stocks close up 0.6 pct

Hong Kong stocks closed up 0.59 percent on Friday,extending a rally that took the main index into overbought territory and supported by forecast-beating results from conglomerate Hutchison Whampoa Ltd.

The benchmark Hang Seng Index rose 127.08 points to 21,678.80,the highest since April. The China Enterprises Index of top locally listed mainland companies gained 0.27 percent to 12,161.75.

Hutchison ended up 9.7 percent after earlier climbing 10 percent,its biggest gain in nearly two years. Strong performance in its port and retail divisions helped billionaire Li Ka-shing’s flagship conglomerate post a strong first-half profit.

Hutchison’s controlling shareholder Cheung Kong Holdings Ltd advanced 3.9 percent.