HK stocks to open 1.61 pct down; Denway rises

HONG KONG, Jan 22 (Reuters) - Hong Kong shares are set to
fall 1.61 percent on Friday, with nervous investors exiting
Chinese banks and property stocks on a double whammy of steep
losses on Wall Street and fears of monetary tightening in China.

The benchmark Hang Seng Index .HSI was down 335.47 points
at 20,527.20. The China Enterprises Index .HSCE of top locally
listed mainland Chinese stocks was down 1.72 percent at
11,751.56.

Denway Motors Ltd 0203.HK rose 6.06 percent after the
company said its controlling parent, Guangzhou Automobile Group
Co Ltd, had applied to list on the Hong Kong Stock Exchange by
way of introduction without offering shares for public
subscription, to pave the way for the privatisation of Denway.
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(Reporting by Sui-Lee Wee; Editing by Chris Lewis)