HONG KONG, Dec 3 (Reuters) - Hong Kong shares could start
December testing 2012 highs on Monday, helped by official data
showing headline manufacturing activity in China rose to a
7-month high of 50.6 in November from 50.2 in October.
But there are signs of over-reliance on growth from the
inefficient state sector, data components suggest. HSBC's final
PMI reading for last month will follow later on Monday.
Last Friday, the Hang Seng Index closed up 0.5
percent on the day and up 1.8 percent on the month at 22,030.4,
shy of 22,149.7, the intra-day high for the year.
The China Enterprises Index of the top Chinese
listings in Hong Kong rose 1.3 percent on Friday and 0.4 percent
for the month of November.
Elsewhere in Asia, Japan's Nikkei was up 0.2
percent, while South Korea's KOSPI was up 0.2 percent at
FACTORS TO WATCH:
* U.S.-Israeli media magnate Haim Saban agreed to buy a
controlling stake in Israel's second largest telecoms operator,
Partner Communications, to expand into the market for
bundled phone, internet and television services. Saban Capital
will pay Israeli holding company Scailex Corp 250
million shekels ($65 million) in cash, and take on a $300
million loan that Scailex owes to Hong Kong conglomerate
* International garment firms have demanded fast action to
ensure the safety of Bangladeshi textile workers, a week after a
plant fire killed more than 100 people, a senior industry
official in the country said on Saturday. The meeting was
attended by representatives of major clothing companies,
including Li & Fung Ltd, H&M, TSS, SEARS, TCHIBO,
Global Merchants, GAP Inc, Nike Inc, LEVIS,
Kappahl, Carrefour and Primark.
* A Canadian cabinet figure known to have reservations about
CNOOC Ltd's bid to buy Nexen Inc said
Friday that at least some of Canada's concerns about getting
reciprocal treatment from China had been addressed by an
* China Resources Land Ltd said it would buy from
its parent, China Resources (Holdings) Co Ltd, a 55 percent
interest in a site in Nanning in Guangxi Zhuang Autonomous
Region for HK$2.12 billion cash, in a bid to increase its land
* Metallurgical Corporation of China Ltd said it
won the bid for a site for commercial and residential purposes
in Xiaguan District of Nanjing for 5.62 billion yuan.
* Shui On Land Ltd said it proposed to issue
senior perpetual capital securities in a bid to raise capital to
fund expenditures related to its real estate operations and
to repay existing indebtedness.(Reporting by Clement Tan and Donny Kwok; Editing by Eric