HONG KONG – Hong Kong stocks rose early Wednesday, with the Hang Seng Index up 0.2% at 22,587.72. Hong Kong properties advanced, as the city's major developer Sun Hung Kai Properties Ltd. rose 0.7%, after the company launched new luxury Riva project and saw the first batch of 64 flats sold out on the first day of sale. Sino Land Co. rose 1.1%, Cheung Kong (Holdings) Ltd. gained 0.9%, and Henderson Land Development Co. edged up 0.2%. Chinese auto maker Dongfeng Motor Group Co. resumed trading and fell 0.9%, after the company said it signed an agreement with French joint-venture partner PSA Peugeot Citroen to invest 800 million euros ($1.1 billion) for a stake in the company. Most Casino stocks were lower, after reports said Macau planned to cut the duration of operators' licenses to 5 years. Shares of MGM China Holdings Ltd. declined 1.6%, SJM Holdings Ltd. lost 1%, and Sands China Ltds. dropped 0.8%. On the mainland, the Shanghai Composite Index traded flat at 2,119.77.
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