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Hong Kong stocks inch up, gains by developers offset resource firms' losses

Oct 18 (Reuters) - Hong Kong stocks inched up on Wednesday, with listings in the city of some China-based companies advancing on the first day of the key Communist Party Congress in Beijing.

President Xi Jinping opened the congress on Wednesday with a pledge to build a "modern socialist country" for a "new era".

Investors are keen for clear direction on economic and financial market reform over the next five years, but history suggests these events can be light on detail.

The Hang Seng index added 0.1 percent, to 28,711.76 points.

The China Enterprises Index, an index tracking major domestic firms listed in Hong Kong, gained 0.5 percent, to 11,621.95 points.

Sectors performance was mixed, with gains in developers offset by weakness in resources firms.

Property and construction firms rose 1 percent, led by top developer Sunac with a 6.9 percent jump, even after Xi said China will maintain the principle that houses are for people to live in, not for speculation.

Material firms dropped 1.6 percent, tracking mainland peers, amid continued weakness in commodities market. (Reporting by the Shanghai Newsroom; Editing by Richard Borsuk)