HONG KONG, Oct 12 (Reuters) - Hong Kong shares are set for a
slightly higher open on Friday that will lift them into positive
territory for the week as hopes of more steps from China to
support its domestic stock markets lure investors back into the
The Hang Seng Index rose 0.4 percent on Thursday
while locally listed Chinese shares closed up 1.9
percent largely due to a rally in banking shares. Chinese
banking shares were the Hang Seng's top performers with ICBC
up 4.3 percent.
Central Huijin, a unit of China's sovereign wealth fund,
said earlier this week that it had bought Shanghai-listed shares
of the "Big 4" banks and would continue to increase its stakes.
Weekly inflows into China equity funds have averaged more
than US$200 million a week, the highest in Asia, according to
data from fund tracker EPFR.
Elsewhere in Asia, Japan's Nikkei was down 0.1
percent while South Korea's Kospi was trading little
changed as of 0020 GMT.
STOCKS TO WATCH:
* Canada said it needs more time to complete its review of a
$15.1 billion Chinese bid to take over oil and gas explorer
Nexen Inc, a deal that has raised fears about opening
the Canadian energy sector to the Asian power's state-owned
companies. The government on Thursday extended its review of
CNOOC Ltd's bid by 30 days, to Nov. 11.
* Brazil's Vale SA said it has begun
producing copper concentrate at its Lubambe mine in Zambia.
* China's best-known local sportswear group, Li Ning Co Ltd
, said its chief financial officer Chong Yik Kay has
resigned, the latest reshuffle of senior management as the
company comes under pressure from China's economic slowdown.
* Property firm Cheung Kong (Holdings) Ltd, owned
by billionaire Li Ka-shing's family, plans to separately list
its hotel business by way of an investment trust to free up
capital for new investments, while realising the value of the
(Reporting by Vikram Subhedar and Donny Kwok; Editing by