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Hong Kong shares flat as mainland companies face pressure

Apple suppliers rise on news report of three new iPhones this year

HONG KONG (Nikkei Markets) -- Hong Kong shares were little changed after a choppy Tuesday morning session, as losses for mainland Chinese companies listed in the city eroded an early advance stemming from extended gains on Wall Street.

The Hang Seng Index was up 0.1% to 31,544.19 by midday after changing direction at least six times earlier in the day. AIA Group climbed 4.8% after reporting a 48% increase in net profit for the year ended Nov. 30. The insurer said its value of new business increased 28% to $3.51 billion, while annualized new premiums for the period rose 19% to $6.09 billion. Apple suppliers AAC Technologies Holdings and Sunny Optical Technology Group added 1.2% and 2.1%, respectively. Apple is preparing to release three new smartphones later this year, Bloomberg reported Monday, citing people familiar with the products.

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