HK shares seen higher after US data, Fed remarks

HONG KONG, April 30 (Reuters) - Hong Kong shares are seen
gaining on Thursday after data showed an increase in U.S.
consumer spending and on the Federal Reserve's suggestion that
the economic outlook was improving.

China Mobile (0941.HK) will be in focus after it said it was
buying 12 percent of Taiwan's Far EasTone (4904.TW) for $529
million, in one of the biggest investments by a Chinese company
in Taiwan as ties warm between the former rivals.

China Mobile, the world's largest mobile carrier by users,
will pay about T$17.8 billion or T$40.00 per share for the stake
in one of Taiwan's top three telecoms carriers, it said in a
statement on Wednesday. The price would mark a 14 percent premium
to Far EasTone's closing price of T$35.20.

The benchmark Hang Seng Index .HSI finished 2.8 percent
firmer at 14,956.95 on Wednesday, clawing back some some lost
ground after a two-day slump.

STOCKS TO WATCH

* Aluminum Corp of China (2600.HK) or Chalco may come under
pressure on Thursday after reporting a 1.89 billion yuan loss for
the first quarter of 2009 compared with a 12.52 billion profit in
the same quarter of the previous year amid falling aluminium
prices and rising operating costs.
----------------------MARKET SNAPSHOT @ 2257 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 873.64 2.16% 18.480
USD/JPY JPY= 97.54 -0.09% -0.090
10-YR US TSY YLD US10YT=RR 3.1073 -- 0.000
SPOT GOLD XAU= 895.8 -0.20% -1.800
US CRUDE CLc1 50.58 -0.77% -0.390
DOW JONES .DJI 8185.73 2.11% 168.78
------------------------------------------------------------->
Wall St jumps after data, Fed hint recession easing [.N]
> Dollar rises vs yen as Fed gives less dire US outlook [USD/]
> Bonds fall as Fed gives hopeful outlook [US/]
> Gold rises, unhindered by stocks rally, Fed [GOL/]
> Oil rises on hop recession easing [O/R]

(Reporting by Parvathy Ullatil; Editing by Chris Lewis)