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HK shares up 1.3 pct on US gains,China policy talk

Thu Jul 17, 2008 9:56pm EDT

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HONG KONG, July 18 (Reuters) - Hong Kong shares will open 1.3 percent higher on Friday, boosted by better-than-expected earnings from JP Morgan (JPM.N) and talk of monetary policy easing in China after June data showed slowing economic growth.

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Asia's top refiner, Sinopec Corp (0386.HK), rose 1.1 percent as investors shrugged off a profit warning for the first half as crude oil prices held steady at $130 per barrel on Friday.

The Hang Seng Index .HSI was set to open 276.22 points higher at 22,010.94.

The China Enterprises Index .HSCE of top locally-listed Chinese companies will open 1.4 percent higher. (Reporting by Parvathy Ullatil; Editing by Anne Marie Roantree)

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