HONG KONG, Dec 24 (Reuters) - Hong Kong stocks may rise on
Monday, tracking the U.S. market, with telecoms stocks in focus
after reports of a looming Chinese telecoms industry reshuffle
and oil firms likely to benefit from higher crude prices.
"The overseas market rose and everything points to a bullish
sign day, meaning the index is likely to rise to 28,000 today,"
said Francis Lun, general manager of Fulbright Securities.
However, turnover will be low with the market open for only
half a day.
The benchmark Hang Seng index .HSI rose 2.3 percent to
27,626.92 on Friday.
Telecoms stocks are likely to react to Chinese media reports
that China's top economic planning agency has proposed splitting
China Unicom (0762.HK) while keeping industry leader China Mobile
(0941.HK) intact, as part of a moves to create a fairer market
landscape.
STOCKS TO WATCH:
* Shenhua Energy (1088.HK) (601088.SS), China's top coal
producer, agreed to set up two power plants with its two
state-owned trading partners. [nSHA197365]
* China Oilfield Services Ltd (2883.HK) (601808.SS) has
clinched a deal worth around $100 million after tax to supply
drilling rigs to a Libyan company as part of a push into the
Middle East and Africa. [nHKG200173]
* Zijin Mining Group Co Ltd (2899.HK), China's second-largest
gold miner, plans to issue up to 1.5 billion yuan-denominated A
shares in a Shanghai listing, which may be worth about HK$14
billion (US$1.8 billion).
FACTORS TO WATCH:
* Nikkei .N225 closed on Monday for a public holiday. [.T]
* U.S. stocks- Tech, banks prompt stocks on fly with Santa [.N]
* STOCKS NEWS ASIA-Market factors, main events [STXNEWS/ASIA]
* Oil jumps more than $2 on U.S. spending report [O/R]
* Dollar scales 6-week peaks vs yen as stocks rebound [USD/]
* For upcoming Hong Kong events, click on [HK/DIARY]
* For Hong Kong press digest, click on [PRESS/HK]
KEY HK ADR MOVERS (by % change)
China Unicom (CHU.N)(0762.HK) +5.41
Yanzhou Coal (YZC.N)(1171.HK) +3.76
CNOOC Ltd (CEO.N)(0883.HK) +3.61
PetroChina (PTR.N)(0857.HK) +3.1
Hutchison Telecom (HTX.N)(2332.HK) +2.68
(US$1=HK$7.8)
(Reporting by Judy Hua, editing by Dominic Whiting)
