HONG KONG May 14 Hong Kong shares were set to
open higher on Tuesday after suffering its worst one-day loss in
a month, with strong U.S. retail sales data likely to provide
Sun Art Retail and Sunshine Oilsands are
among companies due to post quarterly earnings later in the day.
On Monday, the Hang Seng Index ended down 1.4 percent
at 22,989.8 points, its biggest percentage loss since April 15.
The decline was largely triggered by investor jitters after Ping
An Insurance fell sharply as regulators slapped a three-month
ban on its brokerage unit for helping list a fraudulent Chinese
The China Enterprises Index of the top Chinese
listings in Hong Kong shed 2.1 percent.
Elsewhere in Asia, Japan's Nikkei was flat, while
South Korea's KOSPI was up 1.1 percent at 0100 GMT.
FACTORS TO WATCH:
* Property conglomerate Cheung Kong (Holdings) Ltd
, controlled by Asia's richest man, Li Ka-shing, said
on Monday it will cancel sales of hotel units at a Hong Kong
project after regulators ruled the deals were unauthorised
* Russia's United Company RUSAL Plc, the world's
largest aluminium producer, posted a 45 percent drop in
first-quarter recurring net profit due to lower aluminium
* Miner Glencore Xstrata met market
forecasts with an 18 percent increase in copper production in
the first quarter of 2013, as new operations expand to
substitute depleted mines and output climbs at the trader's
legacy operations in Congo.
* SouthGobi Resources Ltd , a coal miner
whose main operations are in Mongolia, posted a first-quarter
loss after its revenue plunged 92 percent as its flagship mine
remained closed for the better part of the quarter.
* Agile Property Holdings Ltd said its contracted
sales for April amounted to 2.35 billion yuan, bringing the
aggregated total for the first four months of 2013 to 9.85
* Geely Automobile Holdings Ltd said its total
sales volume for April was 44,491 units, up 22 percent from the
same period last year, but was down 7 percent from March.
* China Yongda Automobiles Services Holdings Ltd
said it would team up with FAW-VW Sales Co Ltd to develop Audi
dealerships in mainland China.(Reporting by Clement Tan and Donny Kwok; Editing by Shri