Hong Kong shares may start lower on weaker China PMI
HONG KONG Oct 2(Reuters) - Hong Kong shares could start weaker on Wednesday after China's official purchasing manager's index (PMI) came in at a softer-than-expected at 51.1 in September versus August's 51.0.
Chinese factories have sent mixed signals on the extent of their latest rebound. A separate manufacturing PMI issued by HSBC on Monday showed manufacturing grew less than expected last month on soft domestic demand.
On Monday, the Hang Seng Index finished down 1.5 percent at 22,859.9 points. The China Enterprises Index of the top Chinese listings in Hong Kong sank 1.7 percent.
The Hong Kong market was closed on Tuesday for China's National Day. The mainland Chinese market will be shut until next Tuesday.
Elsewhere in Asia, Japan's Nikkei was up 0.1 percent and South Korea's KOSPI was up 0.4 percent at 0103 GMT.
FACTORS TO WATCH:
* China Resources Enterprise and Tesco PLC have conditionally agreed to establish a joint venture.
* Russia's Norilsk Nickel, the world's biggest nickel and palladium producer, has lowered its dividend target for 2013-14, its co-owner, aluminium giant Rusal, said on Tuesday, as oversupply in its key market hurts prices.
* Genting Hong Kong Ltd said the Philippine Stock Exchange has approved the application of Travellers, in which it has a 50 percent effective interest, for a listing on the bourse.
* Zijin Mining Group has obtained approval to issue midterm bonds totalling around 10 billion yuan ($1.6 billion). [ID: nWNBS0061Z]
* Nine Dragons Paper (Holdings) Ltd has entered into an agreement with lenders for a $300 million loan facility.
* Yuexiu Property Co Ltd said it has secured a three-year loan facility of HK$500 million with a bank.