Hong Kong stocks rise as cement issues advance «
Hong Kong stocks rose at the start of trading Wednesday, with the Hang Seng Index /quotes/zigman/2622475/realtime HK:HSI -0.88% 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 /quotes/zigman/18499/realtime HK:914 -2.29% /quotes/zigman/530253/delayed/quotes/nls/ahchy AHCHY +4.09% advanced 4.4%, after it projected a 50% jump in net profit for last year. China Resources Cement Holdings /quotes/zigman/46540/realtime HK:1313 -1.65% climbed 4.9%, China Shanshui Cement Group Ltd. /quotes/zigman/41933/realtime HK:691 -3.61% rose 6.3% and Beijing-based cement producer BBMG Corporation /quotes/zigman/43768/realtime HK:2009 -1.46% 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 /quotes/zigman/38487/realtime HK:2007 -2.47% /quotes/zigman/38489/delayed/quotes/nls/ctryf CTRYF +5.34% slipped 0.4%, and Beijing-based Sino-Ocean Land Holdings Ltd. /quotes/zigman/39922/realtime HK:3377 +0.83% edged lower by 0.2%. Meanwhile, shares of China Mobile Ltd. /quotes/zigman/22400/realtime HK:941 -1.54% /quotes/zigman/263044/delayed/quotes/nls/chl CHL -0.02% were off 0.6%. The company’s chairman on Wednesday reportedly said its cooperation with Apple /quotes/zigman/68270/delayed/quotes/nls/aapl AAPL -2.45% won’t be limited to handsets. On the mainland, the Shanghai Composite Index /quotes/zigman/1859015/realtime CN:SHCOMP -0.68% dropped 0.1%.