HK stocks advance 2.2 pct on China stimulus hopes

Shares in PICC Property & Casualty (2328.HK), China's top non-life insurer, recovered from early losses to close up 5.3 percent. The firm reported a loss for the first half of the year as natural disasters in China drove up catastrophe claims.

Shares of China National Building Material (3323.HK) jumped nearly 20 percent to HK$12.10. The Chinese cement group said it expected its first half profit to rise substantially due to an increase in revenue from cement and engineering services.

Shenzhen Investment Ltd (0604.HK) fell 6.9 percent after the Chinese property firm warned of a substantial fall in first-half profit on declining property prices and transaction volume under China's credit tightening measures. (Reporting by Judy Hua; editing by Jonathan Hopfner)