Hong Kong shares may open down as regional markets sluggish
HONG KONG, March 13
HONG KONG, March 13 (Reuters) - Hong Kong shares may open slightly weaker on Wednesday, mirroring a lack of conviction among buyers in other parts of Asia.
Cathay Pacific, China Resources Gas and Yuexiu REIT are among companies expected to post final 2012 corporate earnings later in the day.
On Tuesday, the Hang Seng Index ended down 0.9 percent, slipping from a three-week high it had hovered around over the past two sessions. The China Enterprises Index of the top Chinese listings in Hong Kong fell 1.3 percent.
Elsewhere in Asia, Japan's Nikkei was down 0.1 percent, while South Korea's KOSPI was down 0.1 percent at 0059 GMT.
FACTORS TO WATCH:
* Sheldon Adelson, chairman and CEO of Sands China Ltd's parent Las Vegas Sands Corp, will make a rare public appearance in a Nevada state court in early April as the lead witness in a breach-of-contract case brought against the casino operator by one-time consultant Richard Suen.
* Mid-sized lender China Minsheng Banking Corp Ltd said on Wednesday it would issue 20 billion yuan ($3.22 billion) worth of A share convertible corporate bonds with a term of six years.
* Shanghai-listed China Everbright Bank Co Ltd said on Tuesday it will issue up to 12 billion shares in a Hong Kong listing, confirming an IFR report that the mid-sized lender is pushing ahead with its planned $2 billion share offering.
* Pacific Andes International Holdings Ltd said it would buy a 9.9 percent stake in fishmeal and fish oil producer Copeinca ASA for HK$429 million in cash and has made a voluntary cash offer for all outstanding shares of Copeinca.
* Hanergy Solar Group Ltd said it planned to buy two turn-key photovoltaic power plants in Portugal, with an estimated installed power of 2.2MW each, as the company diversifies into downstream solar business, but terms have yet to be determined.
* Kaisa Group Holdings Ltd said it would issue $550 million 8.875 percent senior notes due 2018 to refinance its 2010 notes, to finance property projects and for general corporate purposes.
* Noodle restaurant chain operator Ajisen (China) Holdings Ltd posted a 55.9 percent fall in 2012 profit to HK$154.2 million hit by skyrocketing costs, debilitated consumer confidence and with sales further affected by the Diaoyu Island dispute during the year.
* Shanghai Pharmaceuticals Holding Co Ltd said it would buy 20 percent of Chiatai Qingchunbao Pharmaceutical Co Ltd for 444.4 million yuan, raising its stake in the company to 75 percent.(Reporting by Clement Tan and Donny Kwok; Editing by Shri Navaratnam)
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