Hong Kong Shares Set To Rise As US Debt Deal Done

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Hong Kong shares are set to start higher on Thursday after a deal was reached in the United States to avert a debt default.

File photo of Hong Kong Exchanges and Clearing Chairman Arculli and CEO Li hitting gong on first trading day after Lunar New Year holidays at the Hong Kong Stock Exchange

Hong Kong shares are set to start higher on Thursday after a deal was reached in the United States to avert a debt default.

On Wednesday, the Hang Seng Index finished down 0.5 percent at 23,228.3 points. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.4 percent.

Elsewhere in Asia, Japan's Nikkei was up 1.09 percent, while South Korea's KOSPI was up 0.4 percent at 0058 GMT.

FACTORS TO WATCH:

* The Chinese government is investigating the former head of PetroChina's Indonesian operations, sources said, just weeks after authorities announced a corruption investigation into other former senior executives at the state oil giant.

* Huadian Power International Corp Ltd said it would place new A-shares raising proceeds of about 3.6 billion yuan ($589 million) for working capital.

* Luk Fook Holdings (International) Ltd said same-store sales growth of retail business for Q2 was at 30 percent for Hong Kong & Macau, and 70 percent for mainland market, while same-store sales growth for national day golden week was 17 percent for Hong Kong & Macau, and 67 percent for the mainland market.

* Daphne International Holdings Ltd said in Q3 2013, the same store sales of its core brands business recorded a year-on-year decline of 18.1 percent. It said the following quarter's market outlook is still unclear, and challenges will prevail in the second half of 2013.

* Asia Cement China Holdings Corp expects over 150 percent year-on-year increase of its unaudited net profit for the nine months ended in September thanks to an increase in sales volume and fall in coal costs.

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