HONG KONG Jan 14 Hong Kong shares may start
slightly softer on Monday on concern over corporate earnings
after companies including global exporter Li & Fung Ltd
warned of lower profits in a challenging operating
The Hang Seng Index closed down 0.4 percent last
Friday after higher-than-expected China inflation triggered
profit-taking in recent outperformers, snapping a two-week
Elsewhere in Asia, Japan was closed, South Korea's
KOSPI was down 0.16 percent at 0059 GMT and Australia's
benchmarket index added 0.15 percent.
FACTORS TO WATCH:
* Consumer goods exporter Li & Fung Ltd warned of
a 40 percent fall in full-year 2012 core operating profit, hit
by ongoing restructuring costs and an additional provision tied
to its U.S. business for which it appointed a new chief.
* Citic Telecom is to buy a 79 percent stake in a
Macau telecom company, Companhia de Telecomunicações de Macau
SARL (CTM), from Cable & Wireless Communications and
Portugal Telecom for $1.2 billion, giving the Chinese
company greater access to fast-growing Macau.
* China South Locomotive and Rolling Stock Corp Ltd (CSR)
, one of the country's two leading train
makers, has signed deals worth 10 billion yuan ($1.6 billion) in
China and other emerging markets, including Argentina and
* China Shenhua Energy Co Ltd , the
country's largest coal producer, said on Friday that it has won
an auction of a shale gas block in southern China, part of its
efforts to further integrate its energy business.
* CNOOC Ltd is a step closer towards restarting
China's largest offshore oilfield after the government's top
economic planning agency approved a development plan for the
Penglai 19-3, a company official said.
* China's largest polysilicon and wafer maker GCL-Poly
Energy Holdings Ltd said it expexted to record a
substantial loss in 2012 due to anti-dumping and countervailing
duties imposed by the United States, the impact of the European
debt crisis on solar farms financing, and impairment and
provisions to be made against inventory and production
* Agile Property Holdings Ltd said it planned to
issue subordinated perpetual capital securities, raising $687.4
million net proceeds to fund purchase of new land sites and for
refinancing and working capital purposes. For statement
* China's top footwear retailer Belle International Holdings
Ltd said it recorded 3 percent same store sales growth
in its footwear business and 10 percent growth in sportswear in
the fourth quarter of 2012.