31.05.201301:01:17UTC+00Hong Kong shares blast higher; HSBC, property bolster

Hong Kong stocks displayed slight gains early Friday as some weaker-than-expected U.S. economic indicators kept alive hopes the Federal Reserve will retain the current level of its asset purchases, with heavyweight HSBC Holdings PLC and property developers on the rise. The Hang Seng Index produced 0.3% more to 22,546.15, while the Hang Seng China Enterprises Index was flat in rough trade. Shares of HSBC posted a 1.1% gain, China Resources Land Ltd. bolstered 1.3% and Cheung Kong Holdings Ltd. spiked 0.5%. Gains were capped by a drop in some Chinese lenders, with China Construction Bank Corp. giving up 0.5% and Bank of Communications Co. dropping 0.5%. China's Shanghai Composite advanced 0.2%.