| Richard188 |
HONG KONG, Oct 14 (Reuters) - Hong Kong stocks are set to
extend their recent gains on Thursday following
stronger-than-expected earnings from U.S. companies that sent
Wall Street shares to a five-month high.
Resources plays are expected to rise, tracking gains in the
sector across the region on soaring commodity prices as China's
month-on-month import growth hit a record high. [ID:nTOE69C01D]
On Wednesday, the benchmark Hang Seng Index .HSI hit a
28-month high, rising 1.5 percent to 23,457.69. The index, up
more than 13 percent since the end of August, faces technical
resistance around 23,730, where a large gap opened on the
downside in June 2008.
Mainland banking shares, which have underperformed the
broader market all year, are seeing renewed interest and are
expected to rise as investors chase laggards and relatively low
valuations tempt those seeking value.
New yuan loans in September surged to 596 billion yuan ($89
billion) as banks were freer with their lending with the global
economy increasingly flush with liquidity.
Traders from Standard Chartered said in a note to clients,
citing a statement on the Hong Kong stock exchange, that China's
Central Huijin Investment Co had said it intended to continue
increasing its shareholding in China Construction Bank Corp
(0939.HK) (601939.SS) in the secondary market in the following 12
months.
CCB shares closed up 2.6 percent on Wednesday.
Elsewhere in Asia Japan's Nikkei .N225 was up 1.9 percent,
led by resource plays, while South Korea's KOSPI .KS11 was up
0.8 percent as of 0120 GMT.
STOCKS TO WATCH:
- Asia-focused bank Standard Chartered Plc (STAN.L)(2888.HK)
launched a $5.3 billion rights issue to bolster its finances for
new capital rules and provide the firepower to take advantage of
growth opportunities, it said. [ID:nSGE69C01A]
- Japanese supermarket operator Uny Co Ltd (8270.T) said it
would team up with a unit of Taiwan-based Tingyi (Cayman Islands)
Holdings Corp (0322.HK) to open supermarkets in China, becoming
the latest foreign operators to tap China's booming consumer
market. [ID:nTOE69C06X]
- China HealthCare Holdings Ltd (0673.HK) said it would buy
cemeteries and funeral parlors assets in Shanghai for HK$3.36
billion, in a deal to be settled by a combination of cash and
issue of convertible note. For statement click
here
- BYD Co Ltd (1211.HK) said the Shaanxi provincial office of
the Ministry of Land and Resources had decided buildings,
constructions and facilitates built by its subsidiary were
unlawful use of land and would be forfeited and the company fined
2.95 million yuan. BYD said the decision would have no adverse
impact on operations. For statement click
here
- Geely Automobile Holdings Ltd (0175.HK), a homegrown
Chinese private car maker, said on Wednesday that its September
vehicle sales rose 0.6 percent from the same month last year.
[ID:nHKF002792]
- International Mining Machinery Holdings Ltd (1683.HK) said
its controlling shareholder TJCC Holdings Ltd HAD sold 175
million shares, reducing its stake in the company to 41.14
percent. For statement click
here
- A shareholder of Chinese coal mining machinery maker
International Mining Machinery Holdings Ltd (1683.HK) is selling
shares worth up to $156 million, according to a term sheet
obtained by Reuters on Wednesday. [ID:nHKU000279]
- Solartech International Holdings Ltd (1166.HK) said it was
in preliminary discussions with an independent third
party regarding a possible acquisition of certain rare earth
mines in Mongolia but no definitive agreement had been entered.
For statement click
here
- Huaneng Power International Inc (0902.HK) said its domestic
power generation within China on consolidated basis totalled
190.903 billion kWh, an increase of 32 percent from the same
period last year, while accumulated on-grid electricity sold
amounted to 179.635 billion kWh. For statement click
here |
Quote
No comments:
Post a Comment