HONG KONG, March 12 Hong Kong shares could start
modestly higher on Tuesday, helped by Wall Street gains, with
several companies expected to post earnings later in the day.
Ajisen, Sino-Ocean land and China Oil
and Gas are among companies due to post their 2012
full year earnings later in the day.
On Monday, the Hang Seng Index closed flat,
surrendering its midday gains. The China Enterprises Index
of the top Chinese listings in Hong Kong shed 0.4
Elsewhere in Asia, Japan's Nikkei was up 0.4
percent, while South Korea's KOSPI was flat at 0056 GMT.
FACTORS TO WATCH:
* Loss-making China COSCO Holdings Co Ltd
, which operates the world's largest dry bulk cargo
fleet, said it plans to sell its logistics unit to boost
earnings and reduce the risk of the firm being suspended from
trading in Shanghai.
* Brazilian miner Vale SA said on Monday it has
suspended a $6 billion potash project in neighboring Argentina
that has been plagued by cost overruns, a decision that could
renew trade tensions between South America's two largest
economies. Vale said its Rio Colorado potash project
in Mendoza province was no longer "in line with Vale's
commitment to discipline in capital allocation".
* China Life Insurance Company resumed
trading in Hong Kong following a suspension earlier on Monday
that resulted from comments made to the press by Yang Mingsheng,
the chairman of the board. Yang's comments about the likelihood
that the company's profits would improve this year were his own
opinion and should not be construed as an earnings forecast, the
company said in a filing on the Hong Kong Stock Exchange.
* Hong Kong subway operator MTR Corporation Ltd
said its 2012 net profit fell 13 percent to HK$13/5 billion.
* Kaisa Group Holdings Ltd said it proposed to
issue U.S. dollar senior notes raising capital to refinance the
2010 notes, finance property projects and for general corporate
* Silver Base Group Holdings Ltd said one of its
subsidiaries, Chuang Yin Development (Overseas), has obtained
the distribution rights of Guizhou Moutai Chiew in Poland,
Hungary, the Czech Republic, Slovakia, Bulgaria with effect from
January 1, 2013.
* Geely Automobile Holdings Ltd said the total
sales volume for February was 31,468 units, down about 20
percent over the same period last year, due to fewer working
days in February because of the Chinese New Year holiday.
* Chow Tai Fook Jewellery Group Ltd said its
overall same stores sales fell 2 percent for the first two
months of 2013, in which China was down 7 percent while Hong
Kong and Macau rose 5 percent.(Reporting by Clement Tan and Donny Kwok; Editing by Eric