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HK shares to open up on US gains,resources rebound

Wed Aug 6, 2008 9:58pm EDT

Stocks

   

HONG KONG, Aug 7 (Reuters) - Hong Kong shares will open 2.1 percent higher Thursday, catching up with a two-session rally on Wall Street on the U.S. Federal Reserve's decision to hold interest rates and a rebound in local commodity counters.

China

Local stocks missed the strong rebound in Asian markets on Wednesday as trading was cancelled due to a severe tropical storm warning.

The Hang Seng Index .HSI will open up 453.51 points at 22,403.26.

All but two of the Hang Seng Index constituents are set to open higher on Thursday. Cathay Pacific (0293.HK) and parent Swire Pacific will open lower after Asia's third biggest airline reported an unexpectedly large loss in the first half.

The China Enterprises Index .HSCE of top locally listed Chinese firms is set to open 2.4 percent higher.

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)

China


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