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HK shares to open 1.2 down pct; Tsingtao soars

Mon Aug 25, 2008 9:59pm EDT

Stocks

   

HONG KONG, Aug 26 (Reuters) - Hong Kong shares will open 1.2 percent lower on Tuesday after renewed credit market jitters sent Wall Street peers sharply lower overnight and resurgent oil prices hurt energy sensitive stocks.

China

The benchmark Hang Seng Index .HSI will open down 255.71 points at 20,849.08, partly erasing Monday's 3.5 percent rally..

The China Enterprises Index .HSCE of top locally listed mainland Chinese firms is set to open 1.3 percent lower.

Tsingtao Brewery (0168.HK), China's best known beer brand, which has been on an upswing since announcing a 42 percent increase in first half net profit last week, is set to open 10.9 percent higher on Tuesday.

($1=6.833 Yuan)

($1=7.805 Hong Kong Dollar)

(Reporting by Parvathy Ullatil; Editing by Keiron Henderson)

China


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