Epic Research Singapore :Hang Seng Update

The Hang Seng Index HK:HSI +0.30% added 0.6% to 23,032.09. Market heavyweight China Mobile HK:941 +0.91% CHL -0.08% rallied 0.9%, as the world's largest mobile carrier said it has received more than 1 million pre-orders for the iPhone before it goes on sale in the carrier's stores on Friday, at a time when Apple Inc. AAPL +0.33% Chief Executive Tim Cook visited Beijing for future cooperation between the two giants. 

Telecom equipment shares also advanced, with ZTE Corp. HK:763 +2.60% ZTCOF +0.50% rising 1.2%. Meanwhile, China Mobile's smaller rivals slipped, as China Unicom HK:762 -2.03% CHU -0.07% dropped 0.7%, and China Telecom HK:738 0.00% CNCT -16.49% fell 0.5%. China South City Holdings HK:1668 +53.92% , a developer of logistics and trade centers, surged 56%, after the company announced that Internet giant Tencent Holdings HK:700 +3.05% TCTZF +2.72% would invest about 1.5 billion Hong Kong dollars ($195 million) for an almost 10% stake in the developer in order to expand their business online, including e-commerce and online payment services. Tencent Holdings HK:700 +3.05% TCTZF +2.72% climbed 3%. On the mainland, the Shanghai Composite CN:SHCOMP +0.04% edged down 0.1% at 2,021.62.  

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