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Hong Kong shares may open higher ahead of Thursday holiday

Source : REUTERS
Last Updated: Wed, Apr 03, 2013 05:42 hrs

HONG KONG, April 3 (Reuters) - Hong Kong shares could start higher on Wednesday, tracking Asian peers ahead of another market holiday on Thursday and key U.S. jobs data later in the week.

China's official purchasing managers' index (PMI) for the non-manufacturing sector rose to 55.6 in March from 54.5 in February, the National Bureau of Statistics (NBS) said on Wednesday, adding to signs of a modest uptick in the world's second-largest economy.

Financial markets in China will be shut for a public holiday on Thursday and Friday, while Hong Kong will be closed on Thursday.

On Tuesday, the Hang Seng Index closed up 0.3 percent at 22,367.8 points. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.8 percent.

Elsewhere in Asia, Japan's Nikkei was up 1.9 percent, while South Korea's KOSPI was flat at 0100 GMT.

FACTORS TO WATCH:

* Taiwan's SinoPac Financial Holdings Co Ltd will sell 20 percent of its banking unit to Industrial and Commercial Bank of China Ltd (ICBC) for around T$20 billion, the Taiwanese bank said on Tuesday.

* Glencore said on Tuesday it had again extended the date by which it expects to close its merger with Xstrata, XTA.L due to the ongoing investigation into the deal in China.

* China Yongda Automobiles Services Holdings Ltd said it is considering the issuance of notes to domestic institutional investors in the mainland, but details of the offering are yet to be finalised.

* China Gold International Resources Corp Ltd said the company and its controlling shareholder China National Gold Group Corporation are assisting the government with rescue work after a landslide in Ze Ri Mountain in Lhasa City in Tibet Autonomous Region.

* Jiangxi Copper Co Ltd said its Yongping copper mine in Jiangxi province, which suspended production after an explosion on March 21, has resumed production on April 2 after the cause of the accident has been identified.

* Beijing Enterprises Holdings Ltd said its subsidiary Beijing Yanjing Brewery Co Ltd posted a 25 percent drop in 2012 net profit to 616.2 million yuan despite a 7 percent rise in revenue to 13.03 billion yuan.(Reporting by Clement Tan and Donny Kwok; Editing by Shri Navaratnam)



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