HONG KONG, June 11 (Reuters) - Hong Kong shares are seen
higher on Thursday on expectations economic data from China for
May will show strength in investment and industrial output.
But the main index may move within a narrow range after
coming withing striking distance of 19,000 points, said analysts.
Hong Kong property stocks may come under pressure on worries
about rising interest rates, which hit Wall Street shares on
Wednesday. [ID:nN10462992]
Changes in interest rates in Hong Kong move in tandem with
those in the United States owing to the peg between the local
currency and the greenback.
The benchmark Hang Seng Index .HSI rose 4 percent to
18,785.66 on Wednesday, recouping losses made in the previous two
sessions on expectations of strong China economic data.
STOCKS TO WATCH-
* Shanghai Petrochemical (0338.HK) (600688.SS) on Wednesday
said it expects to return to profit during the first half of 2009
as raw materials prices dropped following a fall in international
crude oil prices. For statement please click
here
* Property developer Shui On Land (0272.HK) said on Thursday
it would sell HK$2.04 billion (US$261.5 million) worth of new
shares to its controlling shareholder, raising capital to expand
its land bank and for working capital. For statement please click
here
* Super Summit International Timber (1228.HK) said it would
sell 3.51 billion new shares at HK$0.048 each to a major
shareholder, raising HK$168 million for repayment of bank loans
and working capital. For statement please click
here
* China Huiyuan Juice Group (1886.HK) said late on Wednesday
Warburg Pincus had disposed of 98.98 million shares of the
company but still had interest in 3.54 million shares. It said
chairman and controlling shareholder Zhu Xinli had confirmed that
he had no intention to reduce his shareholdings in the company.
For statement please click
here
----------------------MARKET SNAPSHOT @ 2254 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 939.15 -0.35% -3.280
USD/JPY JPY= 98.11 -0.1% -0.100
10-YR US TSY YLD US10YT=RR 3.9475 -- 0.000
SPOT GOLD XAU= 954.95 0.14% 1.300
US CRUDE CLc1 71.4 0.10% 0.070
DOW JONES .DJI 8739.02 -0.27% -24.04
-------------------------------------------------------------
> Wall St falls as rate worries dent recovery hopes [.N]
> US dollar rises as fears over govt debt sales ease [USD/]
> Supply surge pushes 10-year yields up to 4.0 pct [US/]
> Gold ends flat as dollar rises; inflation in focus [GOL/]
> Oil hits 7-month peak as US stockpiles wither [O/R]
(Reporting by Parvathy Ullatil; Editing by Jonathan
Hopfner)
