Hong Kong's Hang Seng index hit its highest level since the global financial crisis on Friday, buoyed by continued gains in Chinese companies' share prices.

Between November 2007 and the end of 2008, Hong Kong's hang seng index lost about two-thirds of its value.

Since bottoming out in October 2008, the market has slowly recovered 154%.

Hong Kong's hang seng index is up 29.5 per cent so far this year, buoyed by strong performance by Chinese blue-chip companies, and on Friday it rose to levels last seen in late 2007.

The Hang Seng China Enterprises Index, a group of large Chinese companies listed in Hong Kong, rose 0.7 per cent on Friday, a slight decline from earlier in the day when it hit a two-year high.