HONG KONG, Sept 11 (Reuters) - Hong Kong shares may build on
its recent uptick on Wednesday, with Chinese cyclicals likely to
extend gains on solid August economic data from the world's
Apple Inc suppliers may come under some pressure
after the technology giant's shares shed more than 2 percent
after it unveiled two new iPhone models. It may also announce a
deal with China Mobile to distribute iPhones at an
event in Beijing later in the day.
On Tuesday, the Hang Seng Index ended up 1 percent at
22,976.7 points, its highest close since May 22. The China
Enterprises Index of the top Chinese listings in Hong
Kong rose 1.6 percent.
Elsewhere in Asia at 0037 GMT, Japan's Nikkei was up
0.5 percent, while South Korea's KOSPI was down 0.2
FACTORS TO WATCH:
* Glencore will cut spending, shelve
dozens of projects and squeeze more than expected from its
record-breaking purchase of mining group Xstrata, lifting
benefits from the deal to at least $2 billion in 2014.
* Motor services group China ZhengTong Auto Services
Holdings Ltd said it would issue $335 million of 4.5
percent bonds due 2018, raising capital to repay a portion of
bridge loan facilities.
* Railway transportation equipment maker CSR Corporation
Limited said it has recently entered into certain
major contracts, including contracts with China Railway
Investment Corp on sale of freight wagons, with an aggregate
value of about 9.25 billion yuan.
* China NT Pharma Group Co Ltd said it would team
with the country's top pharmaceutical products distributor
Sinopharm Group Co Ltd to set up a 40 percent owned
special purpose vehicle, which will have a registered capital of
200 million yuan, for the distribution and sales of vaccines and
cold-chain pharmaceutical products in Shanghai.(Reporting by Clement Tan and Donny Kwok; Editing by Shri