HONG KONG, May 16 (Reuters) - Hong Kong shares could start
higher on Thursday, lifted by records notched up on Wall Street
and a large jump in quarterly net profit for Chinese Internet
giant Tencent Holdings.
Hong Kong is shut on Friday for a public holiday and will
resume trading next Monday. China Resources Enterprises
is due to report quarterly earnings later on Thursday.
On Wednesday, the Hang Seng Index ended up 0.5
percent at 23,044.2 points after closing on Tuesday at its
lowest since May 6. The China Enterprises Index of the
top Chinese listings in Hong Kong also rose 0.5 percent.
Elsewhere in Asia, Japan's Nikkei was down 0.1
percent, while South Korea's KOSPI was up 0.7 percent at
FACTORS TO WATCH:
* The London Metal Exchange, which was sold to Hong Kong
Exchanges and Clearing Ltd late last year, expects to
announce a 2014 launch date for its self-clearing platform
within the next few weeks.
* Brockman Mining Ltd said it has applied
for access to Fortescue Metals Group's iron ore rail
line, a move crucial to the Chinese firm's efforts to start
producing iron ore.
* RUSAL, the world's largest producer of
aluminium, could consider deeper capacity cuts if prices for the
metal continue to languish around levels last seen in the
aftermath of the financial crisis, a senior executive said.
* Tencent Holdings more than tripled the number of
active users for its mobile chat application in the first
quarter, a boon to China's largest online gaming and social
networking firm as it tries to diversify its revenue stream. It
reported a 37.4 percent rise in first-quarter profit, slightly
higher than analysts' estimates.
* Cathay Pacific Airways Ltd said its freight
traffic dropped 0.6 percent year-on-year in April on weak air
* Metallurgical Corporation of China Ltd said
value of newly signed contracts from January to April amounted
to 60.82 billion yuan, down 19.2 percent from the same period a
year ago.(Reporting by Clement Tan and Donny Kwok; Editing by Edwina