Hong Kong shares end up but gains capped by weakness in oil majors

HONG KONG, Oct 3 (Reuters) - Hong Kong shares rose on Wednesday, led by utilities and property developers, but gains were capped by weakness in energy stocks as oil prices skidded on worries over weak global growth.

The Hang Seng index closed up 0.2 percent at 20,888.28 points, while the China Enterprises index of top locally listed mainland companies closed flat.

The Hong Kong market was also catching up to global gains after being closed on Monday and Tuesday for holidays. China's domestic markets will remain shut through the week.


* Cathay Pacific rose 3 percent and was the best performer on the Hang Seng index after the International Air Transport Association (IATA) raised its forecasts for industry profits.

* Insurer AIA Group Ltd. rose 2.3 percent, having hit its highest level since going public in October 2010 earlier in the day. Jefferies analyst Baron Nie initiated coverage on the stock last Friday with a "buy" rating, expecting the company to report strong third-quarter operating figures next week.

* Easing oil prices weighed on top Chinese producers. Petrochina fell 1 percent while CNOOC was down 0.4 percent and were among the top drags on the Hang Seng after HSBC Holdings . HSBC fell 0.6 percent.

(Reporting by Vikram Subhedar; Editing by Anne Marie Roantree)

((vikram.subhedar@thomsonreuters.com)(+852 28436975))