HONG KONG, Jan 8 (Reuters) - Hong Kong shares could start lower on Tuesday, after Wall Street retreated from 5-year highs as investors took profits on the new year rally which has driven markets near their most overbought state in more than two years.
On Monday, the Hang Seng Index ended flat at 23,329.8, nearing levels set last Thursday that were its highest close since June 1, 2011. The China Enterprises Index of top Chinese listings in Hong Kong rose 0.3 percent.
Their respective relative strength index values suggest both indexes are just off their most overbought levels since October 2010: 74.5 for HSI and 78.6 for HSCE, their highest since Oct 2010 is 77.4 and 80.2 on Jan. 3.
Elsewhere in Asia, Japan's Nikkei was flat, while South Korea's KOSPI was down 0.2 percent at 0104 GMT.
FACTORS TO WATCH:
* Carlyle Group CG.O plans to sell its remaining stake in China's third-largest insurer CPIC in a deal valued at up to $790 million, according to an outline agreement seen by Reuters.
* China said it has yet to approve U.S. planemaker Boeing's 787 Dreamliner, which has put on hold the delivery of the jet to the world's fastest-growing aviation market. China Southern Airlines Co Ltd , which has outstanding orders for 10 Dreamliner B787s, had expected to receive its first plane in 2012, but that has been delayed as the U.S. company has yet to receive certification from Chinese authorities.
* China Vanke Co Ltd, the country's largest real estate developer by revenue, said its December sales soared 142 percent to 14.1 billion yuan ($2 billion). In a statement on Monday it also forecast robust sales in January as China's property market shows signs of recovery.
* BYD Co Ltd , a Chinese carmaker backed by billionaire investor Warren Buffett, said on Monday it had gained official permission to sell its electric buses in all European Union member states.
* Shimao Property Holdings Ltd said it planned to issue $800 million 6.625 percent senior notes due 2020 to refinance debt and to fund existing and new property development projects.
* Glass products maker China Glass Holdings Ltd said it expected to record a loss for year ended in December 2012 due to economic slowdown.(Reporting by Clement Tan and Donny Kwok; Editing by XXX)