Hong Kong shares may start higher, China property in focus
HONG KONG Aug 13 (Reuters) - Hong Kong shares may start higher on Tuesday, with the Chinese property sector in focus after the eastern city of Wenzhou became the first in China to ease restrictions on property purchases.
Under the new rule, first-home buyers in Wenzhou can now buy two houses, reversing a restriction introduced in March 2011 that barred them from purchasing two properties as part of a nationwide campaign to calm China's frothy real estate prices.
Li & Fung, Brilliance Motor, Zijin Mining, Sunny Optical and Sunshine Oilsands are among companies due to post corporate earnings later in the day.
On Monday, the Hang Seng Index ended up 2.1 percent at 22,271.3 points in its biggest daily gain since July 23. The China Enterprises Index of the top Chinese listings in Hong Kong jumped 3.4 percent to its highest level since June 11.
Elsewhere in Asia at 0058 GMT, Japan's Nikkei was up 1.8 percent, while South Korea's KOSPI was up 0.4 percent.
FACTORS TO WATCH:
* FIH Mobile Ltd, the world's largest maker of mobile phones for big-name brands like Nokia, returned to profit in the first half of 2013 after a cost-cutting campaign as competition among handset makers intensifies.
* Coal miner SouthGobi Resources Ltd reported a second-quarter loss and withdrew its full-year forecast for semi-soft coking coal, citing weak demand in China.
* Peak Sport Products Co Ltd said its same store sales for the second quarter remained flat compared to the same quarter in 2012.
* Skyworth Digital Holdings Ltd said it has decided to postpone a proposed spin-off of its Skyworth Display Technology Holdings Ltd, pending a business reorganisation of the group.
* Agile Property Holdings Ltd said it recorded contracted sales of 2.12 billion yuan for July, bringing contracted sales for the first seven months to 18.26 billion yuan.(Reporting by Clement Tan and Donny Kwok; Editing by Edwina Gibbs)
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