Hong Kong's Stocks Fall for First Time in Seven Days; China Mobile Slides

(Bloomberg) -- Hong Kong's stocks fell for the
first time in seven days as investors judged excessive a rally
that drove the Hang Seng Index to a record. China Mobile Ltd.
led the drop.

Shares also declined as profit warnings from U.S. retailers
heightened concern a weak housing market is hurting consumer
spending. Yue Yuen Industrial (Holdings) Ltd. slipped.


Read more at Bloomberg Stocks News

Hong Kong's Hang Seng Climbs to Record; China Mobile, PetroChina Rise

(Bloomberg) -- Hong Kong stocks rise, driving the
Hang Seng Index to a second straight record. China Mobile Ltd.,
the world's largest mobile-phone operator by users, gained after
adding a record number of new subscribers last month.

``China Mobile numbers were just very good,'' said Andrew
Sullivan, head of Asian sales trading at Daiwa Securities SMBC Co.
in Hong Kong. ``I suspect you will see some analysts upgrading
their yearly numbers and target prices.''


Read more at Bloomberg Stocks News

Ericsson signs $1 billion China GSM deal

(Reuters) - "The most important thing was that we signed a contract today for deliveries of $1 billion worth of telecoms equipment. We have a third of the telecom market in China so this was another significant step in that development," Svanberg told reporters at the ceremony.




Ericsson said the new framework agreement would see it supply core and radio network equipment, along with related technical support and services, to China Mobile as it expands GSM coverage in 19 regions of China.


Read more at Reuters.com Business News