* HSI +0.4 pct, H-shares -0.3 pct, CSI300 +0.1 pct
* UK banks rise on favourable Scottish vote results
* Pharmaceutical firms as investors prefer defensive stocks
* CAR Inc surges 28 pct in HK debut (Updates to midday)
By Grace Li
HONG KONG, Sept 19 (Reuters) - Hong Kong’s benchmark index rose on Friday following gains on U.S. exchanges, but trimmed earlier gains as a weaker Chinese market weighed on sentiment.
By midday, the Hang Seng Index was up 0.4 percent at 24,254.95 points. The China Enterprises Index of the top Chinese listings in Hong Kong fell 0.3 percent. Both appeared headed for their second straight weekly loss, down 1.4 and 2.2 percent, respectively.
The CSI300 of the leading Shanghai and Shenzhen A-share listings inched 0.1 percent higher, while the Shanghai Composite Index was off 0.1 percent at 2,313.56 points. They are down 1.2 and 0.8 percent on the week.
“The Hong Kong market is just moving relatively sideways under a consolidation mood,” said Ben Kwong, director at KGI Asia.
More volatility can be expected with the quarter-end approaching, which would also come from investors’ speculations about China’s Central Committee meeting and the Hong Kong-Shanghai trading link in October, Kwong added.
HSBC Holdings was the biggest contributor to the Hang Seng with a rise of 1.8 percent, after early results from the Scottish independence vote reinforced expectations Scotland would remain in the United Kingdom.
Standard Chartered added 1.2 percent, while Hutchison Whampoa , which has a big British exposure, advanced 0.4 percent.
Chinese pharmaceutical companies posted solid gains, as people turn to defensive stocks while awaiting direction. Shanghai Pharmaceuticals climbed 3.1 percent in Shanghai and Sinopharm Group leapt 3.3 percent in Hong Kong.
CAR Inc soared 28 percent in its Hong Kong trading debut as investors who missed the initial public offering scrambled for shares. It finished the morning session at HK$10.90 versus the IPO price of HK$8.50.
Energy firms dragged. CNOOC shed 1.1 percent and PetroChina 1.0 percent.
Prada SpA sank 2.8 percent to its lowest since July 2012 after UBS cut its share target price. The company’s six-month results are due later in the day.
Editing by Eric Meijer