HONG KONG, May 15 (Reuters) - Hong Kong shares are set to
extend falls on Tuesday, with the benchmark stock index poised
to register its worst losing streak in nearly two decades as
fears of a Greece exit from Europe and weak Chinese growth keep
investors on the backfoot.
The Hang Seng index closed down 1.2 percent on
Monday, falling below its 200-day moving average for the first
time since early February and retreating for an eighth straight
session. The China Enterprises index of top locally
listed mainland firms fell 1.5 percent.
The last time the Hang Seng index dropped for nine straight
days was during an 11-day losing streak that ended in early May
Worries over Greece leaving the euro zone were compounded by
data pointing towards a deeper recession in Europe, pushing
investors away from risky assets and into safer havens such as
U.S. Treasuries. Stocks on Wall Street fell with the S&P 500
closing 1.1 percent lower.
Elsewhere in Asia, Japan's Nikkei was down 1.1
percent while South Korea's KOSPI was off 0.9 percent as
of 0030 GMT.
STOCKS TO WATCH
* SouthGobi Resources Ltd , a coal miner
with operations in Mongolia, reported a first-quarter profit on
Monday, as its sales nearly doubled and its average selling
price rose. It said its coal mines in Mongolia were still
operating despite a recent government announcement about a
planned suspension of its mining licenses.
* Sun Hung Kai Properties board member Thomas Chan
had his bail extended on Monday, according to a source familiar
with the matter, in a widening graft scandal involving one of
Asia's richest families.
* China Vanke, the country's biggest listed
property developer by sales, has agreed to pay HK$1.1 billion
($142 million) for a 74 percent stake in Winsor Properties
Holdings Ltd, the company announced on Monday. It said
it plans to make a mandatory general offer for the remaining
shares in Winsor, after acquiring the stake that was previously
held by Wing Tai Properties Ltd.
* State-owned China Nonferrous Mining Corp (CNMC) is looking
to raise HK$2.44 billion ($313 million) through a sale of shares
in a Hong Kong listing, less than originally planned, IFR
reported on Monday.
* Steel-to-property conglomerate Citic Pacific Ltd
is seeking HK$6bn for working capital, more than the HK$3-4bn
originally expected, sources said.
* Russia's UC RUSAL Plc, the world's biggest
aluminium producer, posted an 84 percent drop in first-quarter
net profit as prices fell, potentially fuelling a shareholder
row over the company's refusal to sell its stake in Norilsk
(Reporting by Vikram Subhedar; Editing by Jonathan Hopfner)