BEIJING -- Hong Kong equities were mostly gainers Tuesday, with the Hang Seng index rising 0.3% to 16,369. The Shanghai Composite Index fell 0.9% to 1682.Shares of China stocks advanced in New York's shortened Monday trading session. China Mobile ( CHL) was up 2.2% to $29.25 on the same day its takeover talks with Millicom International Cellular ( MICC) were officially pronounced dead. But Millicom shares plummeted 26.6% to $12.10 after the Luxembourg-based telecom outfit said it will take itself off the auction block. Millicom had been pursuing a sale since January, and over the past few weeks speculation emerged that China Mobile was a serious suitor. The rumored acquisition aroused much interest given the likely synergies between China Mobile, the world's biggest mobile phone provider with some 260 million subscribers, and Millicom, which sells prepaid cell phone service to 9 million customers in emerging markets in Latin America, Africa and Asia. But on July 3 Millicom said that after a month of negotiating, its potential unnamed acquirer -- widely reported to be China Mobile -- couldn't come up with a "suitably attractive offer." As for China Mobile, it's worth noting that an acquisition actually might not have had a direct short-term effect on shares, since its parent company would have been making the purchase. Also Monday, Hurray! ( HRAY) rose 6.9% to $5.86 on news it had won contracts to upgrade WAP portal systems for China Unicom ( CHU) in two different provinces. Hurray management said the deals were important not so much for their financial implications -- CEO Q.D. Wang described the contracts as "relatively small" - but for what they might indicate about spending by service providers. "After delays for almost a year, we believe these contracts marked a pickup in mobile operators' activities to expand capacity on their wireless data infrastructure to accommodate continued user growth," Wang said in a statement.