Hong Kong shares to open up 0.7 pct at highest since August 2011

HONG KONG Tue Dec 18, 2012 8:30pm EST

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HONG KONG Dec 19 (Reuters) - Hong Kong shares are set to open at their highest since August 2011 on Wednesday, lifted by riskier plays on elevated hopes of imminent progress on a deal to avoid the "fiscal cliff" of painful cuts and tax hikes that could hurt the U.S. economy.

The Hang Seng Index was set to open up 0.7 percent at 22,654.7, its highest level since Aug. 1, 2011. The China Enterprises Index was indicated to start up 0.8 percent.