China property leads gains in Hong Kong shares, casino stocks fall
* Hang Seng, China Enterprises Indices have best week in 5
* Chinese property stocks surge after December sales
* Casino shares fall as Macau's Dec gaming revenue down 30.4 pct
HONG KONG, Jan 2 (Reuters) - Hong Kong and Chinese enterprise shares ended higher on the first trading day of the new year on Friday and posted their best week in the last five weeks, with Chinese property and financials stocks leading the way.
The Hang Seng index ended up 1.1 percent at 23,857.82 while the China Enterprises Index gained 2.2 percent to 12,245.35.
The blue-chip index is up 2.2 percent for the week, while the China Enterprises Index climbed 5.95 percent, fuelled by the strong sentiment in mainland markets, which have surged on expectations that Beijing will roll out more stimulus measures to support the slowing economy.
Shares of Chinese property developers in Hong Kong surged as reports of strong December sales eased worries about the cooling housing market. China Resources Land Ltd climbed 7.1 percent, China Overseas Land and Investments Ltd 8.5 percent and China Vanke 10.6 percent.
Financial stocks also rose with Ping An Insurance jumping 5.1 percent, China Life Insurance rose 3.1 percent, and Industrial and Commercial Bank of China Ltd up 1.9 percent.
China markets were closed for a holiday on Friday and will reopen on Monday. Continuación...