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Hong Kong shares to open up 3.3 pct, HSBC leads

Wed Apr 1, 2009 9:58pm EDT

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HONG KONG, April 2 (Reuters) - Hong Kong shares will open 3.3 percent higher on Thursday with HSBC at the helm after encouraging U.S. home and factory sales data sparked optimism about the world's largest economy.

Shares in HSBC (0005.HK) will open 6.7 percent higher at HK$45.70 as the technical overhang related to its massive $18 billion rights issue, announced in March, subsided. The stock fell 19 percent in March, far underperforming the 6 percent rally on the main index.

The benchmark Hang Seng Index .HSI was up 443.80 points at 13,963.34.

The China Enterprises Index .HSCE of top mainland firms was 3.3 percent higher at 8,345.05.

(Reporting by Parvathy Ullatil; Editing by Jacqueline Wong)



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