HK shares close higher on U.S. data; CLP drags

HONG KONG, Aug 29 (Reuters) - Hong Kong shares rose 1.5 percent on Friday, staging a rebound from the previous session's sell-off, after data showed the U.S. economy grew at a surprisingly strong clip in the second quarter.

But CLP Holdings fell more than 3.5 percent after Hong Kong signed a memorandum of understanding with China on natural gas supply, threatening the need for an LNG terminal project that the city's largest power utility was bidding to build.

The benchmark Hang Seng Index .HSI unofficially closed up 321.01 points at 21,293.30 after giving up 2.3 percent on Thursday

The blue chip index dropped 6.3 percent in August but gained 4.4 percent this week owing in large part to a 3.4 percent jump on Monday, its biggest in 5 months.

The China Enterprises Index .HSCE of top locally listed mainland Chinese firms was up 1.8 percent.

(Reporting by Parvathy Ullatil; Editing by Ken Wills)