Hong Kong shares close higher led by commodities, China Mobile, properties

Share prices closed sharply higher as commodity stocks surged on the back of high oil and gold prices, with the key index also supported by China Mobile, property developers and utilities firms.

China Mobile was up on hopes of strong 2007 earnings, while property stocks drew renewed interest due to positive sector outlook and hopes for further interest rate cuts.

Utilities stocks were supported as they are viewed as good defensive bets in times of market volatility.

Dealers said trade next week will depend on key US jobs data to be released tonight.

The Hang Seng index closed up 632.41 points or 2.35 pct at 27,519.69, off a low of 26,994.85 and high of 27,596.86. For the week the index is up 149 points or 0.54 pct.

Turnover was 99.84 bln hkd.

The property sub-index gained 841.82 points or 2.27 pct to 37,890.82, while the Hang Seng China Enterprises index rose 438.74 points or 2.84 pct to 15,903.40.