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HK shares open 1 pct lower on U.S. woes,higher oil

Sun Aug 3, 2008 9:54pm EDT

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HONG KONG, Aug 4 (Reuters) - Hong Kong shares will open 1 percent lower on Monday with bleak jobs data from the U.S. intensifying recession worries and higher oil prices seen corroding corporate profits.

China

Asia's largest refiner Sinopec Corp (0386.HK), which has been struggling with the widening gap between soaring international crude prices and regulated prices of refined products in China, is set to open 3.4 percent lower.

The Hang Seng Index .HSI is set to open down 232.01 points at 22,630.59.

The China Enterprises Index .HSCE of top locally listed Chinese firms will open 1.5 percent lower.

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)

China


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