By V. Phani Kumar
HONG KONG (MarketWatch) -- Hong Kong shares advanced Wednesday, led by Chinese coal stocks and market heavyweight HSBC Holdings Plc., but gains were modest in the wake of a mixed finish on Wall Street and choppy trading in Shanghai. The Hang Seng Index rose 0.2% to 22,326.42, and the Hang Seng China Enterprises Index rose 0.2% to 13,165.90. HSBC (HK:5 91.85, +1.40, +1.55%) (HBC 59.25, +0.93, +1.59%) advanced 1.1% amid regional strength in many financials. Chinese coal shares enjoyed a boost after Credit Suisse raised price targets on some miners, according to Dow Jones Newswires, with China Coal Energy Co. Ltd. (HK:1898 16.00, +0.92, +6.10%) (CCOZ.Y 0.00, 0.00, 0.00%) jumping 4.5%. The Shanghai Composite Index was flat at 3,282.57 after moving in both directions, with shares of SAIC Motor Corp. (CN:600104 25.35, -0.31, -1.21%) slipping 0.6% despite a statement it expects a 900% increase in profit for 2009.
