Hong Kong shares may start lower ahead of China trade data

HONG KONG, Feb 10 (Reuters) - Hong Kong shares are
expected to open lower on Friday ahead of China January trade
data that is scheduled to be released after markets open.
China's exports may have expanded 4.8 percent in January
from a year earlier while imports may have inched up only 0.5
percent, yielding a trade surplus of $10.4 billion, according to
the median forecasts from a Reuters poll of 19
analysts.
This follows annual inflation in January that rose to 4.5
percent, higher than the 4.1 percent expectation of analysts
polled by Reuters and dousing hopes of a near-term cut in bank
reserve requirements.
On Thursday, the Hang Seng Index finished virtually
flat, down 0.04 percent at 21,010 points after briefly testing
its 250-day moving average, a level it has not finished above
since July 7 and is currently at about 21,023.
The China Enterprises Index of the top mainland
listings fell 0.3 percent.
Short selling declined on Thursday from the day before,
accounting for 7.2 percent of total turnover, the lowest
percentage since Jan. 16. Turnover on the Hong Kong bourse was
at its highest since Dec. 1.
Elsewhere in Asia, Japan's benchmark Nikkei was down
0.1 percent at 8,990 points, while the Korea Composite Stock
Price Index (KOSPI) was down 0.6 percent at 2,005.9
points at 0048 GMT.

FACTORS TO WATCH:
* Chinese Internet company Alibaba Group plans to take its
Hong Kong-listed unit, Alibaba.com, private, two
sources familiar with the matter told Reuters.
* Macau casino Melco Crown Entertainment Ltd
, partly owned by Australian billionaire James Packer
and Hong Kong businessman Lawrence Ho, posted a 560 percent rise
in fourth-quarter net profits to $107.5 million on Thursday.

* Private equity firm Longreach Group is exploring the sale
of its $440 million majority stake in Taiwanese lender En Tie
Commercial Bank Ltd, as it seeks to cash out of the
2007 investment, two sources familiar with the matter told
Reuters on Thursday.
* Bank of Communications , China's
fifth-largest bank by assets, plans to raise 50 billion yuan
($7.9 billion) through a private share placement to meet
stricter bank capital requirements, IFR reported on Thursday.

* Home builder Kerry Properties on Thursday said
it had won the tender for a residential project in Hong Kong for
HK$2.7 billion ($348 million), at a price slightly higher than
the market expected.
* Husky Energy Inc's fourth-quarter profit nearly
tripled as production and oil prices rose, the company said on
Thursday, but the results lagged estimates due to
higher-than-expected exploration expenses and taxes. Husky,
controlled by Hong Kong billionaire Li Ka-shing, said net income
jumped to C$408 million ($410 million), or 42 Canadian cents a
share, from C$139 million, or 16 Canadian cents, a year earlier.

* Brazilian miner Vale agreed to
rent potassium assets and mining rights from state-controlled
oil company Petrobras for a 30-year period,
according to a securities filing on Thursday.
* Weaker insurance sales and a big writedown at its U.S.
operation dropped Manulife Financial to a
loss, and rival Great-West Lifeco posted a sharp jump
in profit as Canadian insurers began reporting quarterly
financial results on Thursday.
* Maanshan Iron & Steel Co Ltd said it would buy
42 percent shareholding in finance company Magang Group Finance
Co Ltd from Magang (Group) Holding Co Ltd for 429.3 million
yuan. For statement click here
* Skyworth Digital Holdings Ltd said the early
arrival of Lunar New Year this year has resulted in its China TV
business unit recording a 24 percent year-on-year decline in
sales volume of Flat Panel TV in January 2012. For statement
click here

MARKET SUMMARY:
> Greek deal enough for modest gains on Wall Street
> Euro hits 2-mth high vs dollar; Greece deal allays fear
> Treasuries fall as Greek deal damps demand for safety
> Gold down as technical selling offset Greek hopes
> Brent rises 8th day on Greek bailout deal

(Reporting by Clement Tan and Donny Kwok; Editing by Ken Wills)