HONG KONG, Dec 18 (Reuters) - Hong Kong stocks should fall
further on Tuesday as investors continue to grapple with the
prospects of a U.S. recession, with HSBC Holdings plc (0005.HK)
likely to take more hits and commodities expected to suffer too.
The negative mood may bode ill for the debut of Pacific
Online Ltd (0543.HK), a mainland Chinese Internet content
provider.
"It will be another day like yesterday," said Andrew Clarke,
trader at Societe Generale Securities.
"The concerns is really subprime, recession.
"But somewhere along the lines we may have a rebound,
although I don't know who the buyers would be."
The benchmark Hang Seng index .HSI fell 3.5 percent to
26,596.58 on Monday. The China Enterprises Index of Hong
Kong-listed mainland companies .HSCE shed 3.6 percent to
15,391.39.
STOCKS TO WATCH:
* Chinese heavy-duty truck maker Sinotruk (3808.HK) (Hong
Kong) Ltd has set up a 50/50 venture with Russian automobile
maker Zavod Imeni Lihacheva (ZIL), the official Xinhua news
agency said on Monday [ID:nT166194].
* Ming An (Holdings) 1389.HK said unaudited accumulated
gross insurance premium income of its unit Ming An Insurance Co
(China) Ltd amounted to 401.8 million yuan from Jan to Nov.
here
* New World Department Store (0825.HK) said it would buy
Wuhan Department Store and the property the store was located on
in China's Wuhan for HK$885.4 million in cash.
here
* Skyworth (0751.HK) recorded a 1.1 percent year-on-year rise
in total sales volume in Nov. It posted a 4.4 percent drop in TV
sales volume in China but recorded a 29 percent rise in overseas
markets.
here
* Trading in shares of Regent Pacific (0575.HK) will resume
on Tuesday after it said it was selling 710 million shares at
HK$1.10 apiece.
here
FACTORS TO WATCH:
* Nikkei .N225 falls, banks under pressure [.T]
* U.S. stocks stumble on stagflation fears [.N]
* STOCKS NEWS ASIA-Market factors, main events [STXNEWS/ASIA]
* Oil falls on possible OPEC hike, dollar gains [O/R]
* Dollar up vs euro on year-end deals, wobbles vs yen [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)
Aluminum Corp (ACH.N)(2600.HK) -5.4
China Telecom (CHA.N)(0728.HK) -5.7
Sinopec (SNP.N)(0386.HK) -6.0
Sinopec Shanghai Petroleum (SHI.N)(0338.HK) -7.3
China East Air (CEA.N)(0670.HK) -8.8
(US$1=HK$7.8)
(Reporting by Rita Chang; editing by Anne Marie Roantree)
