Hong Kong shares seen starting higher, more China data loom
HONG KONG Aug 9 (Reuters) - Hong Kong shares may open higher on Friday ahead of a slew of China data for July as investors look for further evidence that the world's second-largest economy is stabilizing after surprisingly strong trade figures the previous day.
Inflation data is due at 0130 GMT, while those for industrial output, retail sales and fixed asset management are expected at 0530 GMT. Figures for new loans and money supply growth are due by Aug. 15.
Li Ning, China Resources Cement, China Windpower and Sunshine Oilsands are among companies due to report earnings later in the day. A quarterly review of Hang Seng Index components is also expected after markets shut on Friday.
On Thursday, the Hang Seng Index rose 0.3 percent to 21,655.88 points, while the China Enterprises Index of the top Chinese listings in Hong Kong climbed 0.4 percent. On the week, they are still down 2.4 and 2.6 percent, respectively.
Elsewhere in Asia at 0042 GMT, Japan's Nikkei was up 1 percent, while South Korea's KOSPI was down 0.3 percent.
FACTORS TO WATCH:
* China Resources Enterprise Ltd said on Friday it's considering a joint venture with Britain's Tesco PLC for the operation of hypermarkets and supermarkets in China.
* Italian fashion house Prada appeared to brush off luxury industry concerns about slowing growth in China, saying demand from the country helped to drive an 11.6 percent rise in sales for the six months ended July.
* Trading in China Unicom Hong Kong Ltd's shares will resume on Friday after a brief suspension on Thursday, filings with the Hong Kong exchange showed. Industry executives said China Unicom had to halt its shares following the accidental release of its results prematurely on the website of the State-owned Assets Supervision and Administration Commission during trading hours.
* China Unicom Ltd , the country's second-biggest mobile carrier which posted a forecast-beating 41 percent rise in second quarter profit, said it spent 4.22 billion yuan ($680 million) in handset subsidies in the first half of this year.
* SMIC said Q2 gross profit was at $135.2 million versus $101.7 million in Q1, and Q2 revenue was at $541.3 million, up 28.3 percent on-year.
* A former mainland Chinese investigative journalist who has accused executives of China Resources Power Holdings Co Ltd of corruption said he will reveal more information about the company's business dealings.
* Skyworth Digital Holdings Limited said its China TV business grew 4 percent year-on-year in sales volume in July and was up 14 percent in total sales revenue.
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