REFILE-HK stocks seen leaping after Fed liquidity boost

(Refiles to fix typo in ICBC Asia item, paragraph 13)

HONG KONG, March 12 (Reuters) - Hong Kong stocks were
expected to jump on Wednesday, in line with global markets, as
investors cheer the moves by central banks to boost liquidity,
shoring up the beleaguered credit markets.

Hong Kong should rise 6 percent at most, with the financials
poised to build further on Monday's gains, said Andrew Clarke,
trader at Societe Generale Securities.

"I would let it go up and short into it," Clarke said.

"These are all cosmetic things to make the market look better
than it is. It will stabilise it but not fix it."

The U.S. Federal Reserve and four other central banks teamed
up to get hundreds of billions of dollars in fresh funds to
cash-starved credit markets, allowing financial firms to use
securities backed by home mortgages as collateral for central
bank loans.

Meanwhile, Hong Kong has little room to track an expected 50
to 75 basis points interest rate cut by the U.S. Federal Reserve
next week because deposit rates are very low, Hong Kong Monetary
Authority chief executive Joseph Yam told reporters.

The benchmark Hang Seng Index .HSI closed up 1.3 percent,
or 290.30 points, to end at 22,995.35 on Tuesday. The
resource-heavy China Enterprises index of H shares .HSCE, or
Hong Kong-listed shares in mainland companies, gained 0.6
percent, or 68.99 points, to 12,588.74.

STOCKS TO WATCH:

* Temasek Holdings [TEM.UL] is considering three bidders,
including Bank of China (3988.HK: Quote, Profile, Research, Stock Buzz)>, for the sale of its stake in
Indonesia's sixth-largest bank in a deal likely to fetch over
$800 million, the Wall Street Journal reported on Wednesday
[ID:nSIN294231].

* Listed steel companies Angang New Steel Co (0347.HK: Quote, Profile, Research, Stock Buzz) and
Bengang Steel Plates Co Ltd (000761.SZ: Quote, Profile, Research, Stock Buzz)(200761.SZ: Quote, Profile, Research, Stock Buzz) will be
combined once their parents merge, the head of Angang told
reporters on Tuesday [ID:nPEK256349].

* China Shenhua Energy Co Ltd (1088.HK: Quote, Profile, Research, Stock Buzz), the country's top
coal producer, churned out 14.8 million tonnes of coal in
February, or 26.5 percent more than a year earlier, and increased
sales by 26.0 percent on strong demand to fuel China's galloping
economic growth [ID:nHKG254516].

* Hong Kong subway operator MTR Corp (0066.HK: Quote, Profile, Research, Stock Buzz) said on
Tuesday that yearly net profit totalled HK$15.18 billion versus
HK$7.76 billion a year ago.

* China Merchants Holdings (International) Co Ltd (0144.HK: Quote, Profile, Research, Stock Buzz)
said on Tuesday it agreed to pay 847.3 million yuan ($119.3
million) for a 5.4 percent stake in Ningbo Port, which will seek
a dual listing in Hong Kong and the mainland this year
[ID:nHKG254992].

* Lenovo Group Ltd (0992.HK: Quote, Profile, Research, Stock Buzz), the world's No. 4 computer
maker, said it was focusing its overseas investment on emerging
markets, where computer use was less prevalent, Chairman Yang
Yuanqing told reporters on Tuesday [ID:nPEK227886].

* A consortium formed by Kerry Properties Ltd (0683.HK: Quote, Profile, Research, Stock Buzz) and
Shangri-La Asia Ltd (0069.HK: Quote, Profile, Research, Stock Buzz) won a bid for the purchase of a
land site in Nanchang City in Jiangxi province for 258 million
yuan. A joint venture would be set up for the hotel, offices and
residential development project.

* ICBC Asia (0349.HK: Quote, Profile, Research, Stock Buzz) said it would buy Worldsec Asset
Management Ltd from Worldsec Investment Services Ltd for up to
HK$28 million cash. The asset management firm is licensed to
conduct advisory services on securities, futures contracts, asset
management, and licensed to carry out investment advisory
services in Japan.

* Pick-up truck maker Great Wall Motor (2333.HK: Quote, Profile, Research, Stock Buzz), which
posted 33.3 percent rise in 2007 profit to 937.45 million yuan,
said more investment would be devoted to research and development
to accelerate development of new models and enhance product
quality.

* China Insurance International Holdings Co Ltd (0966.HK: Quote, Profile, Research, Stock Buzz)
said the accumulated premium income of its subsidiary Tai Ping
Life Insurance Co amounted to 3.89 billion for the first two
months of 2008.

FACTORS TO WATCH:
* Nikkei .N225 rises over 3 pct after Fed liquidity move [.T]
* U.S. stocks soar over 3 percent as Fed adds liquidity [.N]
* STOCKS NEWS ASIA-Market factors, main events [STXNEWS/ASIA]
* Oil peaks near $110 before easing on cenbank moves [O/R]
* Dollar surges vs yen, Swiss franc on credit moves [USD/]
* For upcoming Hong Kong events, click on [HK/DIARY]
* For Hong Kong press digest, click on [PRESS/HK]

KEY HK ADR MOVERS (by % change)

China Life (LFC.N: Quote, Profile, Research, Stock Buzz)(2628.HK: Quote, Profile, Research, Stock Buzz) +11.2

Yanzhou Coal (YZC.N: Quote, Profile, Research, Stock Buzz)(1171.HK: Quote, Profile, Research, Stock Buzz) +10.2

China Telecom (CHA.N: Quote, Profile, Research, Stock Buzz)(0728.HK: Quote, Profile, Research, Stock Buzz) +10.1

Aluminum Corp (ACH.N: Quote, Profile, Research, Stock Buzz)(2600.HK: Quote, Profile, Research, Stock Buzz) +9.1

China Unicom (CHU.N: Quote, Profile, Research, Stock Buzz)(0762.HK: Quote, Profile, Research, Stock Buzz) +8.7
(US$1=HK$7.8)