Hong Kong shares up 0.7% by close

HONG Kong shares have closed 0.7 per cent higher after China posted upbeat industrial output data for July that hit a five-month high.

The benchmark Hang Seng Index on Friday gained 151.68 points to 21,807.56 on turnover of $HK44.13 billion ($A6.30 billion).

China's key industrial production growth accelerated to a five-month high of 9.7 per cent in July, the government said.

Authorities also announced steady expansion in retail sales and fixed asset investment, and a benign inflation figure of 2.7 per cent, unchanged from last month.

"Taken with Thursday's better-than-expected trade data, there's more reason to be positive on the economy," Minsheng Securities analyst Zheng Ping told Dow Jones Newswires.

Exports and imports, which had contracted in June, rebounded last month, growing 5.1 per cent and 10.9 per cent year-on-year respectively, according to Customs figures on Thursday.

Mainland plays were strong performers in Hong Kong after the slightly lower than expected inflation reading raised hopes China's leadership will introduce new measures to support slowing economic growth.

The Hang Seng China Enterprises Index rose 1.2 per cent, its biggest one-day gain in more than two weeks. Shares of China Life rose 1.3 per cent to $HK18.52 and PetroChina gained 0.6 per cent to $HK8.87.

Mainland grocery giant China Resources Enterprises rose 7.8 per cent to $HK25.70 after announcing it is holding talks with British supermarket chain Tesco to form a joint venture.

Chinese shares ended up 0.36 per cent. The benchmark Shanghai Composite Index rose 7.34 points to 2,052.24 on turnover of 83.0 billion yuan ($A15.02 billion).

Resources shares led gains. Baotou Steel Rare-Earth surged by its 10 per cent daily limit to 28.16 yuan, Xiamen Tungsten gained 6.58 per cent to 30.92 yuan and Jiangxi Copper rose 3.94 per cent to 17.16 yuan.

Yanzhou Coal Mining climbed 2.91 per cent to 10.27 yuan while Yangquan Coal Industry rose 2.62 per cent to 9.02 yuan.

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