Most Hong Kong stocks rose as telecommunications companies gained and Esprit Holdings Ltd climbed before reporting earnings on Wednesday, offsetting drops in exporters after German business confidence weakened.

Esprit, a clothier that reported a 98 percent drop in full-year profit last year, rose 4.3 percent. China Communications Services Corp, a telecom support provider, gained 1.3 percent to HK$4.55 as investors sought shares with earnings less tied to economic growth. Li & Fung Ltd, a supplier of toys and clothes that gets about a fifth of its revenue from Europe, dropped 0.8 percent.

Almost twice as many stocks rose as fell in the Hang Seng Index, which was little changed at 20698.68 at the close after falling as much as 0.2 percent.

The Hang Seng China Enterprises Index of mainland companies, also known as the H-share index, slid 0.2 percent to 9745.40.

Futures on the Hang Seng Index were little changed at 20742.

(HK Edition 09/26/2012 page2)