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Stocks

Banks lead Hong Kong shares higher ahead of US rate decision

HSBC heads for 3-year high; Sunny Optical extends fall on monthly sales

HONG KONG (Nikkei Markets) -- Hong Kong shares advanced on Wednesday, with lenders leading after a financials-led rally on Wall Street overnight and as investors looked toward the U.S. Federal Reserve's interest-rate decision.

The Hang Seng Index had risen 0.3% to 28,873.21 by midday after dropping as much as 0.3% in early trading. London-headquartered bank HSBC Holdings added 1.6% to HK$79.60, poised for a fifth consecutive gain and its highest level since October 2014. China Construction Bank (CCB) and Industrial & Commercial Bank of China (ICBC) climbed 1.4% and 1%, respectively. Apple supplier Sunny Optical Technology Group had fallen 4% by the noon break, following Tuesday's 7.4% decline, after reporting a drop in November shipments to handset makers. AAC Technologies Holdings, also a supplier to the iPhone maker, slipped 2.6%.

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