HONG KONG, Nov 27 (Reuters) - Hong Kong shares could start
higher on Tuesday after global lenders reached a deal on new
debt targets for Greece, which should free up the next
installment of emergency aid for its near-bankrupt economy.
After nearly 10 hours of wrangling at their third meeting on
the issue in as many weeks, Greece's international lenders
agreed to reduce Greek debt by 40 billion euros to 124 percent
of gross domestic product by 2020 through a package of steps.
On Monday, the Hang Seng Index closed down 0.2
percent at 21,861.8, finishing at the day's low. The China
Enterprises Index of the top Chinese listings in Hong
Kong shed 0.4 percent.
Elsewhere in Asia, Japan's Nikkei was up 0.4
percent, while South Korea's KOSPO was up 0.9 percent at
FACTORS TO WATCH:
* Thousands of angry textile workers demonstrated in the
outskirts of Dhaka on Monday after a fire swept through a
garment workshop at the weekend, killing more than 100 people in
Bangladesh's worst-ever factory blaze. Li & Fung said
it had placed orders for garments from Tazreen Fashions that
were being manufactured on the premises where the fire broke
out. It said it would provide relief to victims' families, and
carry out its own investigation into what caused the blaze.
* Li & Fung Ltd said the value of orders placed
with Tazreen Fashions Limited in Bangladesh will not have any
material impact on its financial performance. The total value of
orders placed for the year with Tazreen on behalf of Kids
Headquarters, a division of LF USA amounted to $111,000 and it
said the company has not placed orders for other customers with
* People's Insurance Company of China Group will issue about
30 billion yen ($365 million) of shares in Japan in conjunction
with its initial public offering on Dec. 7 on the Hong Kong
Stock Exchange, the Nikkei reported.
* China Rongsheng Heavy Industries Group, the
country's largest private shipbuilder, said its chairman had
stepped down just three months after the company posted its
sharpest fall in half-year net profit. Zhang Zhirong quit to
devote more time to his personal interests and will be replaced
by the company's chief executive officer, Chen Qiang, effective
* China's second-biggest insurance company, Ping An
Insurance (Group) Co of China Ltd , has
threatened to take legal action against the New York Times for
reports that Premier Wen Jiabao's relatives had accumulated
massive wealth, largely through holdings in the firm.
* Metallurgical Corporation of China Ltd said it
issued the third tranche of short-term financing bills for 2012.
An aggregate of 4 billion yuan of bills were issued for a term
of 365 days at a par value of 100 yuan each and an interest rate
of 4.46 percent.
* Silver Base Group Holdings Ltd said it has
authorised distributors in various provinces and cities to open
image stores for Wuliangye. It said it has a stable team of
senior management and the recent resignation of certain senior
management staff has not caused any negative impact on its
business operations and management.
* China COSCO Holdings Co Ltd said it planned to
issue $1 billion bonds with interest rate of 4 percent per
annum, raising capital for its offshore subsidiaries and
affiliates for their general corporate purposes. BOC
International and HSBC are the joint bookrunners and the joint
lead managers of the issue.(Reporting by Clement Tan and Donny Kwok; Editing by Eric