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HK shares down 0.9 pct, led by financials, CNOOC

Tue Jul 15, 2008 9:57pm EDT

Stocks

   

HONG KONG, July 16 (Reuters) - Hong Kong shares will open 0.9 percent lower on Wednesday, as financial stocks continued to languish on concern over the U.S. mortgage crisis and CNOOC (0883.HK) joined the slide after oil prices tumbled overnight.

China

China's top electricity producer, Huaneng Power (0902.HK), was set to open 5.9 percent lower after it said on Tuesday it may have made a first-half loss as record high coal prices eroded the company's bottomline. [ID:nHKG178012]

Shares in casino mogul Stanley Ho's SJM Holdings (0880.HK) will finally make their trading debut today, opening at HK$3.08, matching its IPO price.

The Hang Seng Index .HSI was set to open 186.03 points lower at 20,988.74.

The China Enterprises Index .HSCE of top locally listed Chinese firms will open 1.1 percent lower. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)

China


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