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Hong Kong shares may start higher, headed for 2nd weekly gain

Source : REUTERS
Last Updated: Fri, May 03, 2013 01:10 hrs

HONG KONG, May 3 (Reuters) - Hong Kong shares could start higher on Friday, tracking Wall Street gains after improved U.S. jobless claims figures, although activity may be curbed ahead of the U.S. monthly payroll report due later in the day.

On Thursday, the Hang Seng Index closed down 0.3 percent at 22,668.3, pulling away from Tuesday's seven-week closing high. The China Enterprises Index of the top Chinese listings in Hong Kong shed 0.9 percent.

On the week, the Hang Seng Index is up 0.5 percent so far and is headed for a second weekly gain, while the China Enterprises Index is down 0.1 percent.

Elsewhere in Asia, South Korea's KOSPI is up 0.2 percent at 0046 GMT. Japan is shut for a public holiday.

U.S. stocks closed about 1 percent higher on Thursday, led by tech shares, after weekly jobless claims figures pointed to improving labor market conditions a day before the closely watched monthly payroll report.

FACTORS TO WATCH:

* CNOOC printed $4 billion from a four-part bond making it the biggest conventional G3 offshore primary market issue in Asia since Hutchison Whampoa printed a $5 billion piece back in 2003.

* Commodities trader Glencore has turned to its own internal talent for the team that will run trader and miner Glencore Xstrata after the sector's biggest takeover to date, according to a source familiar with the company.

* China Railway Construction Corporation plans to issue Regulation S notes through its wholly-owned subsidiary CRCC Yuxiang Limited, China Railway said in a statement to the Hong Kong exchange on Thursday.

* Hong Kong property developer New World Development plans to spin off and list three of its hotel properties through a trust called NW Hotel Investments in a initial public offering in Hong Kong.

* Sinopec Kantons Holdings, a logistics and trading unit of state-owned Sinopec, plans to raise up to $353 million in a stock offering, according to a term sheet of the deal seen by Reuters on Thursday.

* China International Marine Containers (Group) Co Ltd (CIMC) said Pteris Global Ltd would buy a 100 percent stake in Shenzhen CIMC-TianDa Airport Support Ltd from the company and Shenzhen TGM Ltd in a deal to be settled by issue of new Pteris shares. CIMC's stake in Pteris will be increased to 48.6 percent after the deal from 14.99 percent, and TGM will hold 18.3 percent.

* Sincere Watch (Hong Kong) Ltd said it expected its revenue and net profit for the year ended in March 2013 to fall from the year-ago period due to slowdown in the luxury retail markets for fine watches.

* Guangzhou R&F Properties Co Ltd said its contracted sales for April amounted to 3.7 billion yuan, an increase of 28.5 percent from a year ago.(Reporting by Clement Tan and Donny Kwok; Editing by Shri Navaratnam)




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