Spanish veteran Miguel Angel Jimenez held off the rampaging Fredrik Andersson Hed to win the $US2 million Hong Kong Open on Sunday by one shot and become the oldest winner on the European Tour.

The Swede surged into contention with a six-under-par 64 for a four-day total of 14-under-par 266.

But Jimenez, 48, the overnight co-leader, clung on.

He carded a final-round 65 to take the trophy home by the most slender of margins.