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Hong Kong shares to open 1.4 pct higher

Wed Apr 8, 2009 9:57pm EDT

Stocks

   

HONG KONG, April 9 (Reuters) - Hong Kong shares will open 1.4 percent higher on Thursday, recovering from a two-day sell-off, tracking gains on Wall Street, but conglomerate CITIC Pacific is set to drop after announcing a major management reshuffle.

The benchmark Hang Seng Index .HSI was up 202.99 points at 14,677.85.

Beijing-backed CITIC Pacific (0267.HK), which said it has replaced its chairman and managing director with a senior executive from its parent company, will open 2.9 percent lower at HK$9.20 as it resumes trading on Thursday.

The stock was suspended last Friday after police raided the offices of CITIC Pacific looking for information on forex contracts.

The China Enterprises Index .HSCE of top mainland firms was 2 percent higher at 8,718.78.

(Reporting by Parvathy Ullatil; Editing by Nick Macfie)



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