March 8 Hong Kong shares extended gains for a
third day on Wednesday, helped by strength in mainland property
developers, as well as a jump in ZTE Corp after the
Chinese telecom equipment maker agreed to plead guilty in a U.S.
The benchmark Hang Seng index added 0.4 percent, to
23,782.27, while the Hong Kong China Enterprises Index
gained 0.5 percent, to 10,280.31.
An index tracking Chinese property shares surged
3.4 percent, after the previous day's 2.8 percent gain.
ZTE shares jumped around 6 percent, after it agreed to pay
nearly $900 million and plead guilty to criminal charges for
violating U.S. laws that restrict the sale of American-made
technology to Iran and North Korea.
Heavyweight China Unicom Hong Kong Ltd added about
2.2 percent on news that the telecom operation's restructuring
reform proposals might soon be approved.
Resource stocks lost 0.3 percent, bucking the broad
trend, as weakness in mainland commodities markets curbed
(Reporting by Jackie Cai and John Ruwitch; Editing by