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Hong Kong shares may open higher on China

Source : REUTERS
Last Updated: Mon, Feb 18, 2013 06:40 hrs

HONG KONG, Feb 18 (Reuters) - Hong Kong shares are likely to rise on Monday as investors are expected to resume buying and consolidate their positions after mainland China markets return from the Lunar New Year break.

Mainland China markets open on Monday after they were shut last week. On Friday, the Hang Seng Index rose 0.1 percent and finished the holiday-shortened week up 1 percent.

In other parts of Asia, Japan's Nikkei was up 1.8 percent, while South Korea's KOSPI edged 0.07 higher in early trade.

FACTORS TO WATCH:

* U.S. oil firm ConocoPhillips will gradually restart China's largest offshore oilfield, in which CNOOC Ltd has a 51 percent stake, after getting approval for a development plan and its environmental impact assessment, China's State Oceanic Administration said in a statement.

* Kingdom Holding Co, the international investment firm of Saudi billionaire Prince Alwaleed bin Talal, and a consortium of investors have bought a 1.5 billion rial ($400 mln) stake in Chinese online retail firm 360buy Jingdong, the company said.

* A real estate investment trust backed by Singapore state investor Temasek is betting on demand from yield-hungry investors to complete an up to $1.3 billion initial public offering, the largest ever IPO by a REIT in the city state.

* China Gogreen Assets Investment entered an agreement with a local government in the Henan province of China to develop solar power stations with an investment worth 720 million yuan ($114 million) and an aggregate installed capacity of 60 megawatts.



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