WebSify
Follow us on
Mail
Print

Hong Kong shares may start higher, tracking Wall Street

Source : REUTERS
Last Updated: Tue, Jul 16, 2013 01:20 hrs

HONG KONG, July 16 (Reuters) - Hong Kong shares may start modestly higher on Monday, tracking Wall Street gains with weaker-than-forecast growth in U.S. retail sales likely to further calm jitters that the Federal Reserve will reduce its bond-buying stimulus anytime soon.

On Monday, the Hang Seng Index closed up 0.1 percent at 21,303.31, hovering around one-month highs. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.1 percent.

Elsewhere in Asia, Japan's Nikkei was up 0.2 percent, while South Korea's KOSPI was down 0.1 percent at 0055 GMT.

FACTORS TO WATCH:

* Huaneng Power International's total generation slipped 0.46 percent in the first six months from a year ago due to the economic slowdown, China's largest independent power producer said on Monday.

* Chinese construction gear maker Zoomlion Heavy Industry Science and Technology Co Ltd has denied accusations it spied on rival Sany Heavy Industry Co Ltd or was involved in the kidnapping of the son of Sany's chairman.

* Chinese TV maker TCL Multimedia Technology Holdings Ltd has submitted an application to the Hong Kong stock exchange for the proposed spin-off and listing of wholly owned subsidiary Tonly Holdings.

* Xiao Nan Guo Restaurants Holdings Ltd has agreed to invest in Shanghai Huajing Agricultural Biotechnology Co Ltd, which specialises in food preservation technology, to boost the quality of its products.

* APT Satellite Holdings Ltd expects to record a significant increase in first-half revenue and operating profit due to revenue contribution from its new satellite Apstar 7.(Reporting by Clement Tan and Lee Chyen Yee; Editing by Edwina Gibbs)




blog comments powered by Disqus
most popular on facebook
talking point on sify finance