Hong Kong stocks close modestly higher 0.3%
Hong Kong shares held firm on Wednesday,as mainland markets gave up some of the previous session's strong gains as investors turned cautious ahead of the Lunar New Year holiday next week.
The Hang Seng Index closed up 0.3 percent at 19,686.92. The China Enterprises Index of top mainland listings in Hong Kong eased 0.09 percent to 10,952.60.
AIA Group Ltd rose 1.6 percent on reports that Asia's No.3 insurer, about one-third owned by American International Group Inc, may bid for the $6 billion Asian insurance operation of ING Groep NV.
China Life Insurance Co Ltd, the world's largest insurer by market value, climbed 1.7 percent.
Swire Properties Ltd pared gains on Wednesday but ended above its debut price on the first day of trade as a spinoff from Swire Pacific Ltd. Swire Pacific, however, closed down 3.7 percent.
