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HK shares open down 1.7 pct; China Mobile slides

Tue Aug 12, 2008 9:58pm EDT

Stocks

   

HONG KONG, Aug 13 (Reuters) - Hong Kong shares will open 1.7 percent lower on Wednesday on fears the turmoil in global credit markets may deepen after JP Morgan Chase (JPM.N) was tipped to have racked up $1.5 billion in losses so far this quarter.

China

Asia's largest wireless carrier, China Mobile (0941.HK), is set to open 3.6 percent lower, adding to its 5.6 percent decline so far this week, as investors fret about the company's earnings amid slowing economic growth in China and regulatory uncertainty.

The Hang Seng Index .HSI is set to open 370.03 points lower at 21,270.86.

The China Enterprises Index .HSCE of top locally listed Chinese firms will open down 2.2 percent.

(Reporting by Parvathy Ullatil; Editing by Jonathan Hopfner)

China


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