HONG KONG, Nov 5 (Reuters) - Hong Kong shares look set to
rise for a second day on Thursday, but gains will be limited
ahead of U.S. jobless data due on Friday, while resources will be
in focus after the U.S. dollar weakened.
Chinese gold miner Zijin Mining (2899.HK) and oil producer
PetroChina (0857.HK) may extend gains as gold and fuel prices
continued to rise. [ID:nN0417419]
"The weakness of the U.S. dollar continues to give momentum
to commodities and the stock market," said Patrick Yiu, managing
director at CASH Asset Management. "But I don't think we will
have a sharp gain unless the A-share market performs very well."
Wall Street shares initially rallied on Wednesday after the
Federal Reserve said it would keep its rates near zero "for an
extended period", but succumbed to selling pressure in the last
half-hour of trading. [ID:nN0458750] and [ID:nN04453484]
The benchmark Hang Seng Index .HSI ended 1.76 percent
higher at 21,614.77 on Wednesday, rebounding from a 2.36 percent
drop in the previous two sessions.
STOCKS TO WATCH:
* Chinese property developer Evergrande Real Estate (3333.HK)
will debut on Thursday. The IPO was priced at HK$3.50 a share.
Recent Hong Kong debutant Trinity (0891.HK), a fashion retailer,
surged 49 percent on Tuesday.
* Property developer China South City (1668.HK) said it would
invest 1.3 billion yuan ($190.4 million) in a residential and
commercial property development joint venture in Xian, extending
its reach to northwestern China. For statement please click
here
* Advertising concern Media China (0419.HK) said it planned
to raise up to HK$357.6 million ($46.14 million) by selling 7.4
billion rights shares, raising capital for future investments and
acquisitions. For statement please click
here
* AviChina Industry & Technology (2357.HK) said it was in a
2.37 billion yuan asset swap with a controlling shareholder. The
Chinese aviation products maker would transfer a 54.51 percent
stake in Dongan Motor to the controlling shareholder in return
for a 43.3 percent stake in Jonhon Optronic worth 1.77 billion
yuan and 593 million yuan cash. For statement please click
here
------------------MARKET SNAPSHOT @ 2252 GMT -------------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1046.5 0.1% 1.090
USD/JPY JPY= 90.81 0.08% 0.070
10-YR US TSY YLD US10YT=RR 3.5199 -- 0.051
SPOT GOLD XAU= 1091.45 -0.08% -0.900
US CRUDE CLc1 80.4 0.00% 0.800
DOW JONES .DJI 9802.14 0.31% 30.23
-------------------------------------------------------------
> Wall St rally fades late after Fed; Cisco up late [.N]
> Dollar tumbles as Fed to keep rates low for some time [USD/]
> Supply worry dents prices; Fed keeps rates steady [US/]
> Gold hits record above $1,095/oz as dollar slides [GOL/]
> Oil rises for 3rd day on inventory drop, Fed [O/R]
(Reporting by Jun Ebias; Editing by Jonathan Hopfner)
