HONG KONG Jan 15 Hong Kong shares rose on
Wednesday as Chinese PC maker Lenovo Group surged to its highest
close in nearly 14 years, extending strong gains after reports
suggested it bucked a broader decline in PC shipments last
The Hang Seng Index ended up 0.5 percent at 22,902
points, with trade locked in the same 320-point range it has
been in for nearly two weeks. The China Enterprises Index
of the top offshore Chinese listings in Hong Kong also
rose 0.5 percent.
Gains came in sluggish turnover largely focused on a few
sectors, including Chinese cement producers and sportswear
brands after a series of profit alerts and warnings.
Anhui Conch Cement and China Resources Cement
rose about 6 percent after issuing positive profit
alerts, spurring some short covering that lifted all cement
361 Degrees plummeted 6.5 percent in its biggest
loss in seven months after warning 2013 net profit will be
"significantly lower" than the year before, weighing on sector
peers. Li Ning sank 4 percent.
Lenovo shares jumped 5.5 percent to its highest
closing level since April 2000 and have now soared more than 10
percent in four sessions after Gartner and IDC reports were
released late on Jan. 9.