Hong Kong shares may start lower ahead of China data

HONG KONG Sun May 12, 2013 9:10pm EDT

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HONG KONG May 13 (Reuters) - Hong Kong shares could start the week lower on Monday ahead of April data for China's urban investment, industrial output and retail sales later in the session.

After markets shut last Friday, data showed Chinese banks lent 792.9 billion yuan ($129.3 billion) of new local currency loans in April, missing market expectations for 800 billion yuan and lower than 1.06 trillion yuan in March.

The broad M2 money supply jumped 16.1 percent in April from a year earlier, above a median forecast of 15.5 percent in a Reuters poll. The total social financing - a broad measure of liquidity in the economy, totalled 1.75 trillion yuan in April, down from 2.54 trillion in March.

Last Friday, the Hang Seng Index climbed 0.5 percent to 23,321.2 points, its highest closing level since mid-February. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.7 percent.

They rose 2.8 percent and 4.6 percent last week, respectively. Those weekly gains were the year's second-best and their third consecutive.

Elsewhere in Asia, Japan's Nikkei was up 1.3 percent, while South Korea's KOSPI was down 0.1 percent at 0100 GMT.

FACTORS TO WATCH:

* PICC Group will replace Aluminum Corporation of China (Chalco) on the China Enterprises Index, while Galaxy Entertainment will replace retailer Esprit Holdings on the Hang Seng Index. Both changes are effective June 17.

* Trading in shares of Glencore International Plc was suspended on Monday morning, according to a filing on the Hong Kong exchange.

* Langham Hospitality Investments, a spinoff of Great Eagle Holdings Ltd's Langham hotel chain, set a yield for 2013 of between 5.65 and 6.5 percent for its Hong Kong initial public offering of HK$3.96 billion to HK$4.57 billion (US$511 million to $589 million), IFR magazine reported on Saturday. The company will offer 852 million shares at an indicative price range of HK$4.65 to HK$5.36 each. Bookbuilding will start on Monday and pricing is set for May 22.

* MGM China Holdings Ltd said on Monday that China State Construction Engineering (Hong Kong) Ltd and China Construction Engineering (Macau) Co Ltd have won a HK$10.5 billion ($1.4 billion) contract for its Cotai project in Macau.

* China National Offshore Company (CNOOC Ltd) , China's largest offshore oil and gas producer, will increase the price it pays for gas from BP's Tannguh project in Indonesia, the head of Indonesia's energy regulator said on Friday.

* Chinese property developer Agile Property Holdings Ltd said it acquired land use rights of a piece of land for commercial and residential uses in Foshan City in Guangdong province for 1.2 billion yuan.(Reporting by Clement Tan and Donny Kwok; Editing by Jacqueline Wong)

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