HK stocks seen steady, oil and mining plays in focus

HONG KONG, May 9 (Reuters) - Hong Kong stocks are expected to
hold steady on Friday as investors turn cautious ahead of major
Chinese economic data due next week, with oil and mining firms in
focus as crude and commodities prices surge.

"The Hong Kong market could stablise ahead of a long weekend
and major Chinese economic data, such as CPI, to be released next
week," said Conita Hung, director of Delta Asia Financial Group.

"Oil-related companies will remain in focus after crude
prices hit another record of $124 a barrel. Investors will also
pay attention to telecom firms on speculation that an industry
reshuffle could come soon."

She expects a trading range between 24,400 and 25,700 for the
day. Hong Kong market will be closed on Monday for a public
holiday.

The benchmark Hang Seng index .HSI fell 0.63 percent to
25,449.79 on Thursday.

The China Enterprises Index of Hong Kong-listed mainland
companies .HSCE, or H shares, fell 1.64 percent to 13,886.59.
----------------------MARKET SNAPSHOT @ 2303 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1397.68 0.37% 5.110
USD/JPY JPY= 103.93 0.17% 0.180
10-YR US TSY YLD US10YT=RR 3.7823 -- 0.000
SPOT GOLD XAU= 882.15 -0.02% -0.150
US CRUDE CLc1 124.16 0.38% 0.470
DOW JONES .DJI 12866.78 0.41% 52.43
-------------------------------------------------------------

FACTORS TO WATCH:
* Nikkei .N225 opens flat then slips as Toyota drops [.T]
* U.S. stocks jump on miners, oil; AIG sinks late [.N]
* STOCKS NEWS ASIA-Market factors, main events [STXNEWS/ASIA]
* Oil rallies to record $124 on strong diesel demand [O/R]
* Euro recovers vs dlr on Trichet inflation comments [USD/]
* For upcoming Hong Kong events, click on [HK/DIARY]
* For Hong Kong press digest, click on [PRESS/HK]

STOCKS TO WATCH:

* China's central planner warned fertiliser companies on
Thursday not to raise prices of important ingredients and set a
maximum range for mark-ups on imported fertiliser, amid concerns
about rising prices. [ID:nPEK179095]

* Ping An Insurance (2318.HK), which plans an offering of
local currency A shares, said on Thursday it will not issue new
domestic shares for at least six months due to volatile capital
markets in China. [ID:nHKG17825]

* Bulk shipping firm Pacific Basin Shipping Ltd (2343.HK)
said it would sell up to HK$2.14 billion (US$275 million) worth
of new shares to fund expansion initiatives.

The bulk shipping firm said it would sell up to 158.6 million
shares, representing 9.1 percent of its enlarged share capital,
to third party investors at HK$13.52 each, or a 7 percent
discount to the closing price of HK$14.54 on Thursday.
[ID:nHKG157096]

* Manulife Financials (0945.HK)(MFC.TO) said net income fell
to C$869 million in the first quarter, from C$986 million in a
year ago period, due to sharp declines in the U.S. and Asia
equity markets. For details please see
here

* Hutchison (0013.HK) said its unit in Israel, Partner
Communications Co (PTNR.TA), had received a lawsuit requesting
certification as a class action. For details please see
here

KEY HK ADR MOVERS (by % change)

China Unicom (CHU.N)(0762.HK) +6.6

China Telecom (CHA.N)(0728.HK) +5.5

Yanzhou Coal (YZC.N)(1171.HK) +3.0

Semiconductor Mfng (SMI.N)(0981.HK) +2.9

CNOOC Ltd (CEO.N)(0883.HK) +2.9
(US$1=HK$7.8)
(Reporting by Judy Hua; Editing by Anne Marie Roantree)