HONG KONG, March 26 Hong Kong shares may start
lower on Tuesday, returning some of Monday's gains on fears the
Cyprus bailout could serve as a template for a restructuring of
the euro zone banking sector.
Earnings will stay in focus, with the three largest Chinese
airlines, Air China, China Eastern and China
Southern, along with Agricultural Bank of China
and Bank of China, among companies due to
post 2012 results.
Haitong Securities, Hong Kong property developer
Cheung Kong Holdings and conglomerate Hutchison
Whampoa, Macau casino operator Galaxy Entertainment
and Chinese property developer Evergrande
are other notable releases.
The Hang Seng Index closed up 0.6 percent at 22,251.2
on Monday. The China Enterprises Index of the top
Chinese listings in Hong Kong rose 0.8 percent.
Elsewhere in Asia on Tuesday, Japan's Nikkei was
down 0.5 percent, while South Korea's KOSPI was flat at
FACTORS TO WATCH:
* Sinopec Corp, Asia's largest refiner, will
strive to lower its petrochemical production costs and optimize
its product mix to meet the threat of cheap rival U.S. supply in
the future, a top executive said.
* Chinese sportswear group Li Ning Co Ltd reported
on Tuesday a steeper-than-expected 1.98 billion yuan ($318.8
million) loss for 2012, its first annual loss since it listed in
2004, hit by inventory charges and fierce competition from
domestic and foreign brands.
* Belle International Holdings Ltd, China's top
footwear retailer by market value, posted a 2.3 percent rise in
2012 profit, its slowest profit growth since 2008, as a weaker
economy cut consumer spending and higher wages raised costs.
* GOME Electrical Appliances Holding, backed by
private equity firm Bain Capital, posted a 596.6 million yuan
loss in 2012, its first yearly loss since listing in 2004, as
slower economic growth, rising costs and losses in its
e-commerce business took a toll.
* Henderson Land Development Co Ltd said its 2012
net profit rose 28 percent to HK$7.1 billion.
* Chinese state-owned insurer People's Insurance Company
(Group) of China Ltd (PICC) said its 2012 net profit
rose 32 percent to 6.8 billion yuan.
* China Rongsheng Heavy Industries Group Holdings Ltd
won its first orders to build two jack-up rigs worth
more than $360 million in Singapore as it makes further inroads
into offshore engineering.
* China Construction Bank's ratio of
non-performing real estate loans reached 0.98 percent at the end
of 2012, Chief Executive Wang Hongzhang said on Monday.