Hong Kong Shares May Open Higher On Metal Prices

by
Hong Kong shares are expected to start firmer on Wednesday, tracking Wall Street gains helped by a rebound in metal prices and encouraging data from the United States.

hong kong Shares

Hong Kong shares are expected to start firmer on Wednesday, tracking Wall Street gains helped by a rebound in metal prices and encouraging data from the United States.

On Tuesday, the Hang Seng Index closed down 0.5 percent at 21,672 points. The China Enterprises Index of the top Chinese listings in Hong Kong lost 0.1 percent.

Elsewhere in Asia, Japan's Nikkei was up 0.9 percent, while South Korea's KOSPI gained 0.2 percent by 0053 GMT.

 

FACTORS TO WATCH:

* Luxury stocks can be a focus after the world's No.1 luxury goods group LVMH said Louis Vuitton sales in Europe have been hit by a drop in demand, particularly from Asian tourists, while China has been sluggish with no sign of improvement.

* China's antitrust authorities removed the last obstacle to Glencore's $30 billion takeover of miner Xstrata on Tuesday after the commodities trader agreed to sell a $5.2 billion mining project to ease its grip on copper.

* Future Land Development Holdings Ltd issued a 1.5 billion yuan bond with a coupon of 9.75 percent due 2016, raising proceeds to repay loans and to fund acquisition of land for residential and commercial property development.

 

* PetroChina President Zhou Jiping, architect of a major overseas investment push, has been appointed chairman of China National Petroleum Corp (CNPC), state news agency Xinhua said on Tuesday.

View Comments

Recommended For You