HK shares expected to move up; Huiyuan Juice eyed

HONG KONG, June 9 (Reuters) - Hong Kong shares are expected
to move higher on Tuesday, recovering from the previous session's
losses, boosted by a rally on Wall Street and a rebound in crude
oil prices.

Crude oil futures rose towards $69 per barrel on Tuesday,
erasing Monday's 0.5 percent decline, amid expectations U.S.
inventory data due out later in the day will show a decline in
U.S. crude stockpiles.

China Huiyuan Juice (1886.HK) will be in focus after the
Financial Times newspaper reported that U.S. private equity fund
Warburg Pincus had ended its investment in China's top juice
producer, becoming the first big stakeholder to pull out of the
company after the collapse of Coca-Cola's $2.4 billion takeover
offer.

Coca-Cola Co's (KO.N) planned purchase of China Huiyuan Juice
was blocked by the Chinese government in March, triggering a
sharp fall in the company's share price.

The benchmark Hang Seng Index .HSI dropped 2.3 percent on
Monday, to close at the lowest level this month, as financials
and local property stocks lost ground after their recent sharp
run-up.

STOCKS TO WATCH-

* China Power International (2380.HK) said it would buy a 63
percent stake in Wu Ling Power, the largest independent
hydropower producer in Hunan province, from its parent for 4.47
billion yuan ($653.8 million), a deal to be settled by the
issuance of 3.13 billion yuan worth of shares with the remainder
to be paid in cash. For statement please click
here

* Shandong Chenming Paper (1812.HK) said it planned to invest
5.2 billion yuan in a low-weight coated-paper project in Shougang
City, 2.6 billion yuan in a white-coated linerboard project, and
2 billion yuan to build a special railway line connecting its
headquarters to a logistics centre. The projects will be partly
funded by bank loans. For statement please click
here

* China Eastern Airlines (0670.HK) late on Monday said it was
currently in the middle of restructuring plans, and was planning
proposals for lowering the company's gearing ratio. It did not
disclose further details. [ID:nHKG66148]

Trading in the shares will remain suspended pending a
statement on price-sensitive information. For statement please
click
here

* Electronic component trader Inspur International (0596.HK)
said it had completed its sale of 310 million shares to a
controlling shareholder at HK$1.40 each after the shareholder
sold the same amount of existing shares at the same price to
third-party investors. For statement please click
here

* China Resources Power (0836.HK) plans to invest up to 3
billion yuan per annum over the next few years to boost its
wind-power generating capacity, the South China Morning Post
reported. The power producer will build up to six wind farms with
a total generating capacity of 300 megawatts per year, the
newspaper cited chief financial officer Wang Xiaobin as saying.
----------------------MARKET SNAPSHOT @ 2245 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 939.14 -0.1% -0.950
USD/JPY JPY= 98.49 0.05% 0.050
10-YR US TSY YLD US10YT=RR 3.8974 -- 0.000
SPOT GOLD XAU= 951.95 0.20% 1.900
US CRUDE CLc1 68.58 0.72% 0.490
DOW JONES .DJI 8764.49 0.02% 1.36
ASIA ADRS .BKAS 112.23 -0.28% -0.31
-------------------------------------------------------------

MARKET SUMMARY
* Wall Street rallies late, ends flat [ID:nN08345810]
* Oil slips, stocks and dollar weigh [ID:nSP162458]
* Dollar gains, bonds fall on U.S. rate-hike fears [ID:nN08341159]
* Rate fears beat back U.S. Treasury bonds [ID:nN08382300]

(Reporting by Parvathy Ullatil; Editing by Chris Lewis)