HSI ends up 122 pts at 26,829 midday; turnover at HK$42.3bn

    HK stocks closed modestly higher on Monday morning session in cautious trade ahead of FOMC's rate decision on Wednesday. The benchmark index opened up 13 points to 26,720. It then saw an intra-day low of 26,674. But the rally of Geely Automobile (00175) and Galaxy Entertainment (00027) helped push the index up 175 points to 26,882 at one stage.
  The Hang Seng Index ended up 122 points or 0.5% to 26,829. The H-share index rose 31 points or 0.3% to 10,818. Half-day turnover decreased to HK$42.3 billion from HK$45.9 billion on Friday. 
  Geely soared 5.9% to HK$18.62 becoming the biggest blue-chip winner after Nomura, UOBKH, and Credit Suisse maintained their ratings and target prices on the automaker post a conference call hosted by the company on 21 July.
  Great Wall Motor (02333) reported poor 1H earnings and CICC Research chopped its target price for the firm by 40%. It ended down 1.4% to HK$9.9. Brilliance China Automotive (01114) soared 9% to HK$18.3 after JP Morgan assigned a HK$30 target price on the company.
  Harmony New Energy Auto (03836) fell 1.8% to HK$3.75 after it terminated share placement on Thursday.
  JP Morgan raised its target prices for four casino operators, including Galaxy, Sands China (01928), SJM Holdings (00880) and Wynn Macau (01128). The foursome rose 3%, 1.7%, 1.8% and 1.8% respectively.
CKI Holdings (01038) put on 2.9% to HK$71.75 after Daiwa Research's upgrade on its strong earnings. Power Assets (00006) also gained 2% to HK$76.9. 
China Unicom (00762) edged up 0.5% to HK$11.48 after its parent company clarified that the mixed ownership talks has yet to ink an agreement.