By The Hang Seng Index <.HSI> closed up 0.23 percent at 21,134.18. The China Enterprises Index <.HSCE> of top mainland listings in Hong Kong ended down 0.27 percent at 11,225.91.
The Shanghai Composite Index <.SSEC> finished down 0.19 percent at 2,434.86 as A-share turnover increased for a third-straight session, hitting the highest in a week.
HIGHLIGHTS:
* China Mobile Ltd (>> China Mobile Ltd) surged to the highest since August 2009, rising 3.9 percent in almost three times its 30-day average volume to HK$87.45. HSBC on Monday upgraded the Hong Kong-listed shares of China's largest mobile operator from neutral to overweight and raised its target price by 25 percent to HK$100, following Goldman Sachs on Friday. HSBC analysts said the integration of chips that support both China Mobile's 3G and 4G standard in mass-market handsets would level the playing field in China.
* Investors took profit on China consumer names that outperformed last week. Belle International Holdings Ltd (>> Belle Intl Holdings) lost 1.3 percent after surging 10.3 percent last week.
* Chinese rail stocks suffered after mainland media reported that a section of a new high-speed railway in central China's Hubei province collapsed after persistent rains, renewing safety-related fears about the sector. China Rail Construction Corp Ltd <1186.HK> slumped 7.3 percent, while China Railway Group Ltd <0390.HK> dropped 5.4 percent.
(Reporting by Clement Tan; Editing by Chris Lewis)
