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HK shares to open slightly higher, HSBC weighs

Sun Jul 13, 2008 9:57pm EDT

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HONG KONG, July 14 (Reuters) - Hong Kong shares will edge up on Monday, boosted by the U.S government's offer to help its beleaguered home financers and lower crude oil prices, but index heavyweight HSBC (0005.HK) weighed with a 1 percent fall.

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On Sunday, the Treasury and Federal Reserve unveiled sweeping steps to shore up the troubled mortgage financing giants Fannie Mae (FNM.N) and Freddie Mac (FRE.N) if need be, and avert a potential meltdown in global financial markets. [nN13387357]

The Hang Seng Index .HSI will open 20.45 points higher at 22,205.00.

The China Enterprises Index .HSCE of top locally-listed Chinese firms is set to open 0.9 percent higher. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)

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