HONG KONG, July 2 Hong Kong shares may return
weaker from a long weekend on Tuesday after two surveys on
Monday showed China's factory sector slowed to multi-month lows.
China's official PMI slipped to 50.1 in June from May's
50.8, just a whisker above the 50-point level that indicates
growth. A separate PMI survey, conducted by Markit and sponsored
by HSBC, fell to a 9-month low of 48.2 from May's 49.2.
Last Friday, the Hang Seng Index closed up 1.8
percent at 20,803.29 points, while the China Enterprises Index
of the top Chinese listings in Hong Kong rose 1.7
Elsewhere in Asia, Japan's Nikkei was up 1.2
percent, while South Korea's KOSPI was up 0.3 percent at
FACTORS TO WATCH:
* Gambling revenue in Macau rose 21.1 percent in June
year-on-year, buoyed by a steady flow of wealthy mainland
gamblers eager to place their bets in the Chinese controlled
* China will raise the non-residential city-gate natural gas
prices to a national average of 1.95 yuan ($0.32) per cubic
metre from the previous 1.69 yuan, the National Development &
Reform Commission said on Friday. The price hike takes effect
from July 10.
* The London Metal Exchange (LME), which owned by Hong Kong
Exchanges and Clearing, proposed a major overhaul of
its metals storage system on Monday that, if implemented, will
help soothe irate industrial clients and curb profits for banks
and trade houses that own warehouses.
* Singapore state investor Temasek Holdings Ltd has
increased its stake in Industrial & Commercial Bank of China
to 8.07 percent for HK$580 million ($75 million),
according to a Hong Kong stock exchange statement.
* China's CITIC Securities said on Friday that it
had agreed to extend by a month a deadline for a final deal to
acquire French bank Credit Agricole's CLSA Asian
* Standard Chartered may take a more than
$1 billion hit on its Korean business, analysts said, and will
use a valuation made on Sunday to decide exactly how much to
* Infant formula producer Biostime International Holdings
Ltd said it would buy 20 percent of a French milk
products maker Isigny Sainte Mère for 2.5 million euros and
subscribe for 17.48 million bonds at a subscription price one
* Sinopharm Group Co Ltd said it would buy 80
percent of China National Pharmaceutical Group Shanxi Co Ltd
from controlling shareholder Sinopharm Industrial Investment Co
Ltd for 819.6 million yuan.
* Yuanda China Holdings Ltd said it expects to
post a significant decline profit for six-months ended in June
with the amount of the newly-awarded projects declining
significantly. For statement,