HK shares open higher on China rate cut hopes

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HONG KONG | Tue Nov 11, 2008 8:56pm EST

HONG KONG Nov 12 (Reuters) - Hong Kong shares will open 0.8 percent higher on Wednesday, as investors bet China will cut interest rates this month after the nation's inflation fell to a 17-month low in October.

The benchmark Hang Seng Index .HSI was indicated to open up 114.36 points at 14,155.26.

The China Enterprises Index .HSCE of top locally listed mainland Chinese companies will open up 1.2 percent at 7,222.94.

Top lender ICBC <1398.HK) was set to open up 3.4 percent as lower rates may spur lending.

(Reporting by Jun Ebias; Editing by Anne Marie Roantree)

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