China Unicom (ADR: CHU, Hong Kong code 0762) rose 1.1% at HK$14.66 (ADR: $18.88) vs the HSI’s 0.84% gain, as its 3G subscribers rose 3% on-month to reach a new high of 3.49 million in December, and pushes its overall 3G users base to break the 40 million mark. Deutsche Bank says Unicom ended the year with 25.96 million 3G net adds, exceeding its 25 million full-year target; it believes the launch of iPhone 4S coupled with the Chinese New Year holiday could push Unicom’s January net adds higher, and keeps Unicom at Buy with a target price of HK$21.50.