Hong Kong shares seen lower, Spain bailout fears weigh

June 19 (Reuters) - Hong Kong shares are expected to start
lower on Tuesday, with risk appetite crimped after Spain's
borrowing costs jumped, raising speculation it might need a
full-blown bailout.
The Hang Seng Index on Monday closed up 1 percent at
19,427.8, off its high for the day just shy of its 200-day
moving average, currently at about 19,593.1.
The 38.2 percent Fibonacci retracement of its rise from
October lows to February highs is at about 19,644.

Elsewhere in Asia, Japan's Nikkei was down 0.4
percent and South Korea's Kospi was 0.2 percent lower at
0029 GMT.

FACTORS TO WATCH:
* French cosmetics group L'Occitane International S.A.
posted a 21.8 percent rise in net profit to 121.2
million euros for the year that ended in March 2012. It said it
would further expand its retail stores network in China, Japan
and other countries in Asia, as well as in Russia and
Brazil.
* CNOOC, China's third-largest state-run refiner and parent
of CNOOC Ltd, has started building a
60,000-barrel-per-day crude processing facility in eastern
China, to boost its still nascent refining and fuel marketing
business in the world's second-largest oil market.

* A Hong Kong investor will plough about 480 million pounds
($751 million) into a development in east London's Greenwich
peninsula to take a majority stake in the 150-acre scheme, the
second deal this month in which an Asian company has bought a
significant chunk of the UK capital. In a joint venture
alongside British developer Quintain Estates, Knight
Dragon, a vehicle controlled by the chairman of Hong Kong
company New World Development, will take a 60 percent
stake in the scheme of homes, offices and shops, with Quintain
holding the rest.
* Pacific Basin Shipping Ltd said it expected to
record a net loss for the six months ending in June, compared to
a profit of $3 million in the same period a year ago, due to a
non-cash impairment charge of $190 million in its six months
results. For statement clicks here
* Singapore gaming operator Genting said
it has lifted its stake in Australian casino operator Echo
Entertainment with the purchase of 19.26 million shares
worth A$82.6 million ($83.3 million).

(Reporting by Clement Tan and Donny Kwok; Editing by Joseph
Radford)