April 8, 2013 / 1:20 AM / 4 years ago

Hong Kong shares may suffer 3rd straight day of losses

3 Min Read

HONG KONG, April 8 (Reuters) - Hong Kong shares may record a third-straight day of declines on Monday, tracking Friday's Wall Street losses after underwhelming U.S. jobs data stoked worries about the recovery in the world's largest economy.

Mainland China markets reopen after a four-day holiday weekend and could react to bird flu jitters as the World Health Organization (WHO) said there had now been 21 human cases of the H7N9 flu with six deaths in China.

On Friday, the Hang Seng Index ended down 2.7 percent at 21,726.9, and the China Enterprises Index of the leading Chinese listings in Hong Kong shed 3.1 percent. Both indexes ended at their lowest points since Nov. 28.

Elsewhere in Asia, Japan's Nikkei was up 2.4 percent, led by expectations the Bank of Japan will soon start implementing its super-easy monetary policy, while South Korea's KOSPI was down 0.1 percent at 0105 GMT.

Factors to Watch:

* Hong Kong-based Hutchison Whampoa could end up with a 10 percent stake in Italy's Telecom Italia, if talks over a tie-up between Hutchison's Italian mobile phone business and Telecom Italia are successful, daily La Repubblica reported.

* Italian fashion house Prada SpA plans to focus its next retail push on the Middle East and the Americas to offset lower spending in Europe and lessen its reliance on Asia, where booming growth is levelling off.

* Tencent Holdings is unlikely to charge any fees for the use of its popular mobile chatting application, its chief executive was quoted as saying, after a cabinet minister caused an uproar by saying users might have to pay fees in future.

* Shui On Land Ltd said its contracted property sales for March amounted to 655 million yuan, bringing the accumulated contracted property sales to 3.18 billion yuan for the first three months of 2013, representing 35 percent of its full year property sales target of 9 billion yuan.

* Same Time Holdings Ltd said it had entered into non-legally binding memorandum of understanding with GCL-Poly Energy Holdings Ltd's chairman Zhu Gongshan for buying interests in certain power plants in China for more than HK$5 billion, in a deal to be settled by issue of new shares. It said it may result in a change in control.

* KWG Property Holding Ltd said its pre-sales value amounted to 1.53 billion yuan for March compared to 1.14 billion in February, and 1.03 billion in March in 2012.(Reporting by Clement Tan and Donny Kwok; Editing by Shri Navaratnam)

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