Hong Kong stocks rose 0.6 percent on Friday with a post-earnings jump in property developer Cheung Kong Holdings spurring a larger buying spree after a recent market drop.
"The market is definitely results driven. Investors chose to ignore rising oil prices." said Alex Tang, research director at Core Pacific Yamaichi Ltd.
The market shut before Hong Kong posted a much stronger-than-expected 3 percent rise in gross domestic product (GDP) in the second quarter from the first quarter, on the back of robust consumer spending, investment and still solid exports.
Cheung Kong (Holdings) Ltd, the property flagship of Asia tycoon Li Ka-shing, was among the top blue chip gainers, rising 3.27 percent to HK$83.80 after it reported a near 52 percent jump in first-half earnings thanks to a roaring property market.
Merrill Lynch raised its earnings forecasts on Cheung Kong by 47 percent and 14 percent for this year and next. Ports-to-telecoms conglomerate Hutchison Whampoa Ltd gained a mild 0.78 percent to HK$77.70. It posted a more modest 10 percent rise in first-half profits on Thursday.
Analysts remain divided about the company's $25 billion investment in 3G telecoms.
The blue chip Hang Seng Index ended up 0.63 percent, or 93.79 points, at 14,982.89. The index dipped 0.37 percent in the past week but is still up 5.3 percent so far this year.
Volume was slightly below recent averages with HK$19.25 billion ($2.46 billion) worth of shares traded.
The earnings season is expected to continue to dominate Hong Kong trade next week, although the expiry of futures contracts is also seen adding volatility.
Blue chips firms to report include China's top offshore oil producer CNOOC Ltd and property heavy conglomerate Wharf Holdings. China's largest life insurance firm, China Life Insurance Co Ltd, is also due to report.
Property shares were among the top performers with the Hang Seng properties sub index up 1.8 percent to 18,618.33.
New Hang Seng entrants New World Development and Sino Land Co Ltd were among the top property gainers, up 4.26 percent and 2.33 percent, respectively.
The counters had lost ground in recent sessions.
China's number two mobile provider, China Unicom Ltd, gained 3.2 percent after posting a 19.4 percent drop in first half earnings late on Thursday.
China's top mobile provider, China Mobile (Hong Kong) Ltd, rose 1.18 percent to HK$34.20.
Other top performers included PICC Property & Casualty Co Ltd China's dominant non-life insurer jumped 9.14 percent to HK$2.15 percent a day after beating market expectations with a 7.6 percent decline in first-half net profit amid tumbling mainland stock prices.