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HK shares open down 2.7 pct; GOME vaults

Mon Jun 22, 2009 9:58pm EDT

Stocks

   

HONG KONG, June 23 (Reuters) - Hong Kong shares will start 2.7 percent lower in a broad-based slump on Tuesday amid renewed worries about the global economy, but Chinese electronic retailer GOME is set to soar as the stock emerges from a seven-month suspension.

GOME Electrical Appliances (0493.HK), a top Chinese electronics retailer, will open 78.6 percent higher at HK$2 after it said it planned to raise not less than $418 million by issuing convertible bonds to Bain Capital, and a new share offering.

The benchmark Hang Seng Index .HSI will start 481.82 points lower at 17,577.73.

The China Enterprises Index .HSCE, which represents top locally listed mainland Chinese stocks, will open down 2.9 percent at 10,334.21. (Reporting by Parvathy Ullatil; Editing by Chris Lewis)



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