HONG KONG (MarketWatch) -- Shanghai stocks edged up Wednesday in quiet trading, following overnight gains on Wall Street, while most other Asian markets were closed for the Christmas holiday. The benchmark Shanghai Composite Index (CN:SHCOMP) rose 0.1% to 2093.92 in the morning session. Shares of cement companies advanced as China plans to start construction of more than 6 million affordable homes in 2014, according to state media Xinhua News Agency on Tuesday. Huaxin Cement (CN:600801) rose 1.3%, and Jidong Cement (CN:000401) advanced 1%. Jiangxi Wannianqing Cement (CN:000789) gained 0.5%. China's largest appliance maker Qingdao Haier (CN:600690) fell 0.5%, showing little reaction to the news that China's Commerce Ministry just approved the deal for U.S. private-equity giant KKR (KKR) to buy a 10% stake in the company for approximately $556 million. The transaction is still pending approval by the China Securities Regulatory Commission. China Railway Construction (CN:601186) edged up by 0.2%, after it announced Tuesday that it has won a Wuhan subway contract worth 7.1 billion yuan ($1.1 billion).
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