HONG KONG, July 4 Hong Kong shares may recoup
some of their two-straight daily losses on Thursday, with
investors cautious ahead of key events including the European
Central Bank meeting and the U.S. non-farm payrolls report later
in the week.
On Wednesday, the Hang Seng Index ended down 2.5
percent at 20,147.3 points. The China Enterprises Index
of the top Chinese listings in Hong Kong dived 3.3 percent. It
marked the worst daily loss for both the benchmarks since June
Elsewhere in Asia, Japan's Nikkei was down 0.1
percent, while South Korea's KOSPI was up 0.5 percent at
FACTORS TO WATCH:
* Swiss food company Nestle and French rival
Danone are cutting the price of infant formula milk in
China after Beijing launched an investigation into possible
price-fixing and anti-competitive behaviour in the sector.
* The Miami Heat's Dwyane Wade visited China on Wednesday
for the first time since signing a multi-million dollar contract
with Chinese sportswear company Li Ning last year, but
the sneakers that bear his name are in short supply.
* Vale SA , the world's largest iron ore
miner, received a license from Brazil's Environmental Protection
Agency to build a $19.5 billion expansion to its giant Carajas
iron ore mining project, CEO Murilo Ferreira said on Wednesday.
* Sinopec Shanghai Petrochemical Co Ltd said its
estimated net profit attributable to equity shareholders
amounted to 438 million yuan for the first half of 2013,
compared to a 1.19 billion yuan loss in the same period a year
ago. Prices of petrochemical products bottomed out in March and
April and the petrochemical business turned around to record a
profit in May and June.
* Lingbao Gold Co Ltd said it planned to seek
shareholders' authorization and approval for a proposed private
placement of financial instruments in China for a principal
amount of up to one billion yuan for a period of one to five
years, raising capital to reduce its short term borrowings.
* Shimao Property Holdings Ltd said its contracted
sales value amounted to 7.19 billion yuan in June, bringing
the aggregated contracted sales value for the first six months
of 2013 to 32.53 billion yuan, up 45 percent from a year ago
period.(Reporting by Clement Tan and Donny Kwok Editing by Shri