6:00AM New York, 6:00PM Hong Kong - Commodities lift Hang Seng index but CSI 300 index in Shanghai falls. OCCL drops on weak earnings on rising fuel cost.

Hong Kong market averages rose spurred by rising crude oil prices.

Market Sentiment

In Hong Kong trading Hang Seng Index rose 0.18% or 40.5 at 22,731.10, and the China Enterprises Index of Hong Kong listed mainland shares, or H shares, increased 0.30% or 37.48 at 12,506.74. In Shanghai trading CSI 300 Index slumped 2.74% or 79.17 at 2,805.21.

Daily turnover on main-board was HK$56.5 billion compared with HK$53.3 billion yesterday.

Macao Trade Deficit Tops 12.91 Billion Patacas in H1

The Statistics and the Census Service of the Special Administration Region reported today that Macao recorded a trade deficit of 12.91 billion patacas in the first six months of the year, as the exports and imports ration fell to 39.8% from 47.6% the same period a year ago.

According to the statistics, total exports declined 10.7% on the year to 8.53 billion patacas, with domestic exports and re-exports plummeting by 11.8% and 8.7% correspondingly and imports of goods rising by 6.9% to 21.45 billion patacas.

Textile and garment exports fell 15.8%, contributing 59.9% of the total exports of goods in the first half year of 2008. Authorities also noted that the value of non-textile exports slipped by 1.7% and exports of machines and apparatus and footwear fell 50.8% and 56.3% respectively.

In addition, exports of image and sound appliances advanced by 69.2%.

In the period, exports to the United States fell 6.3%, while shipments to China dropped 40.3%.

Imports from mainland China and Hong Kong contributed 51.9% of total imports.

China Distance Education Holdings Lists on NYSE

Xinhua News Agency reported on its Web site today that the Chinese distance education agency China Distance Education Holdings listed on the NYSEArca trading platform, which is the NYSE Euronext’s fully electronic market for emerging issuers.

The company was listed its American Depositary Shares under the ticker symbol ""DL"" after it raised US$61.25 million. China Distance Education has 13 distance education websites and last year it earned $11.8 million.

Gainers & Losers

Shares in Hong Kong rose as oil prices climbed in the region’s trading. CNOOC rose 3.7% after crude oil prices crossed $126 a barrel, but refiner Sinopec declined 1.8%.

COSCO rose 5.5% after JP Morgan upgraded the stock following reports by Nomura, a Japanese bank, the company is poised for inclusion in a blue-chip index to be reviewed in August.

Hong Kong Exchanges & Clearing declined 0.2% after Credit Suisse downgraded the stock to “underperform” from “neutral”.