Hong Kong shares may rise on firmer overseas

HONG KONG, Sept 16 (Reuters) - Hong Kong shares are set to
rise on Wednesday, tracking firmer oversea markets with improved
sentiment as stronger economic data in the U.S. boosted hopes
for a global economy recovery.

"A rebound of some 200 points is expected because of the
strength in oversea markets," said Francis Lun, a general
manager at Fulbright Securities.

Bank stocks were seen in demand as they were expected to be
amonged the first to benefit from an economy recovery, brokers
said.

The benchmark Hang Seng Index .HSI closed down 0.31
percent at 20,866.37 on Tuesday afternoon after a severe
tropical storm forestalled the morning session. The China
Enterprises Index .HSCE, which represents top locally listed
mainland Chinese stocks, edged down 0.01 percent to 12,156.07.

STOCKS TO WATCH-

* PCCW (0008.HK) controlling stakeholder Pacific Century
Regional Developments (PCRD) (PCEN.SI) said it would not appeal
a Hong Kong court ruling that blocked a $2.2 billion bid to
privatise PCCW. [ID:nHKG261548]

* Sun Hung Kai Properties (0016.HK), Asia's largest property
developer by market value, said on Tuesday that it aimed to sell
HK$23 billion ($2.97 billion) worth of flats in financial year
2009/10. [ID:nHKG135932]. It posted slightly
better-than-expected fiscal second-half earnings, driven largely
by sales from its Cullinan project.

* China Huiyuan Juice (1886.HK) said its first-half earnings
fell 81.8 percent to 66.7 million yuan for the January-June
period, affected by uncertainties arising from a proposed
Coca-Cola takeover offer and the temporary negative impact on
sales from the implementation of certain restructuring and
strategic initiatives. It accounted for a 45.4 percent market
share by sales volume in 100 percent juice. For statement please
click
here

* SJM Holdings (0880.HK), a flagship company of gaming mogul
Stanley Ho, posted a 40.8 percent drop in first-half profit to
HK$338 million. [ID:nHKF080413]
--------------------- MARKET SNAPSHOT @ 2320 GMT -------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1,052.63 0.31% 3.290
USD/JPY JPY= 90.96 -0.08% -0.070
10-YR US TSY US10YT=RR 3.447 -- 0.000
SPOT GOLD XAU= $1,007.20 0.13% 1.300
US CRUDE CLc1 $70.28 -0.92% -0.650
DOW JONES .DJI 9683.41 0.59% 56.61
ASIA ADRS .BKAS 123.15 0.10% 0.12
--------------------------------------------------------------

MARKETS SUMMARY
*Market hits 2009 highs, led by materials [nN1581026]
*Oil jumps 3 pct as U.S. data lifts economic outlook [nSP312072]
*Dollar falls to near one-year low vs basket [nN1573794]
*Retail sales sizzle leaves bonds glum [nN15582142]
*Gold futures up, hover around $1,010 [nT232450]
(Reporting by Donny Kwok; Editing by Chris Lewis)