Hong Kong shares surged 2.9 percent Monday to set a fresh record close on expectations they will benefit from a new scheme to allow individual mainland Chinese investors to buy the city's shares. The blue chip Hang Seng Index rose 655.84 points, or 2.9 percent, to a record 23,577.73 close. Analysts said they expect the benchmark index to rise further in coming sessions _ thanks to abundant liquidity and strong first-half corporate earnings reports. "The index will likely test 24,000 points this week as the market is flush with funds," said Ben Kwong, chief operating officer at KGI Asia Ltd. Analysts also said they expect individual investors in China to start investing in the Hong Kong's stock market in a trial program as early as this week. The China Enterprises Index, which tracks the movement of H-shares, closed up 6.2 percent at a record 13,989.87. Heavyweight China Mobile rose 4.4 percent to a record HK$100.60. The largest mobile carrier in China alone accounted for a 177.1 point gain in the benchmark index. Ping An Insurance jumped 7.22 percent to HK$79.4 while China Life, the largest Chinese insurer by premiums, rose 4.46 percent to HK$35.15, boosted by expectations of strong first-half earnings