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Wednesday, November 11, 2009
Hong Kong, Shanghai Shares Rise, But Telecoms Weak
By Michael Kitchen
MarketWatch Pulse
LOS ANGELES -- Hong Kong shares were almost flat in early Thursday trade despite a positive lead from Wall Street. The benchmark Hang Seng Index fell 0.1% to 22,610.5 in early moves, while the mainland-focused Hang Seng China Enterprises Index was up 0.1% to 13,486.6. In the tech sector, Lenovo Group Ltd. gained 1.2% after Citi started coverage of its stock with a buy rating. Chinese telecoms were broadly weaker, with China Unicom Ltd. falling 1.1%, and China Mobile Ltd. down 0.4%. The Shanghai Composite also extended gains, rising 0.4% to 3,187.86 a day after mostly strong Chinese economic data.
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