Epic Research Singapore :Hang Seng Update

Hong Kong stocks rose at the start of trading Wednesday, with the Hang Seng Index HK:HSI +0.33% up 0.7% at 22,951.73. Mainland construction materials companies shined after some cement companies reported a profit increase for 2013. Anhui Conch Cement Co. Ltd HK:914 +4.21% AHCHY +4.79% advanced 4.4%, after it projected a 50% jump in net profit for last year. China Resources Cement Holdings HK:1313 +5.08% climbed 4.9%, China Shanshui Cement Group Ltd. HK:691 +5.56% rose 6.3% and Beijing-based cement producer BBMG Corporation HK:2009 +5.97% gained 5.3%. Most mainland property shares underperformed the market, as investors remained cautious ahead of a release of money supply and loan data. 

Guangdong-based Country Garden Holdings HK:2007 -1.29% CTRYF +5.34% slipped 0.4%, and Beijing-based Sino-Ocean Land Holdings Ltd. HK:3377 +0.42% edged lower by 0.2%. Meanwhile, shares of China Mobile Ltd. HK:941 -0.97% CHL +1.08% were off 0.6%. The company's chairman on Wednesday reportedly said its cooperation with Apple AAPL +0.11% won't be limited to handsets. On the mainland, the Shanghai Composite Index CN:SHCOMP -0.78% dropped 0.1%.
 
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