HONG KONG Jan 17 Hong Kong shares may hold
steady in a recent trading range on Thursday, with investors
looking to rotate into laggards ahead of a slew of fresh China
data on Friday, including fourth-quarter GDP growth.
On Wednesday, the Hang Seng Index slipped 0.1 percent
to close at 23,356.99 points, retreating further from the 23,400
level that has proved an obstacle for much of the past two
weeks. It has traded in a 430-point range since the start of the
Elsewhere in Asia, Japan's Nikkei was up 0.8
percent, while South Korea's KOSPI was up 0.1 percent at
FACTORS TO WATCH:
* Struggling Japanese TV-maker Sharp Corp is in the
final stages of talks with Lenovo Group Ltd to form a
television operations partnership in China the Nikkei reported.
* Hong Kong-listed oil trader and shipping firm Brightoil
Petroleum (Holdings) Ltd warned on Wednesday that it
expected to post a loss in the second half of 2012 due to
depressed shipping market conditions and a narrowing of margins
on bunker fuel.
* Chevron Corp said it entered into
production-sharing contracts with Chinese offshore oil company
CNOOC Ltd for two exploration blocks in the South
China Sea as the U.S. oil company looks to grow in the
* Chinese property developer Evergrande Real Estate Group
Ltd said it planned to sell one billion new shares in
a top-up share placement at HK$4.35 each, or a 6.5 percent
discount to the previous close, raising HK$4.35 billion net
proceeds for debt repayment and for working capital.
* Yuexiu Property Co Ltd said it is proposing a
note issue to raise a total of $846.7 million to refinance
indebtedness and for general corporate purposes.
* Shanghai Industrial Holdings Ltd said it plans
to issue HK$3.9 billion zero coupon convertible bonds due 2018
with conversion price at HK$36.34 per share, raising proceeds to
fund future capital expenditure and for investments in the
* Sunshine Oilsands Ltd annouunced a C$390 million
2013 capital budget focused on initiating thermal production.(Reporting by Clement Tan and Donny Kwok; Editing by Jacqueline