HONG KONG Jan 28 Hong Kong shares may start
weaker on Monday, slipping further from a 20-month high ahead of
a week that could see trading focused on Friday's U.S. non-farm
payrolls data for January and ongoing Chinese corporate
Last Friday, the Hang Seng Index eased 0.1 percent to
23,580.4. It closed at a 20-month high last Tuesday, but failed
to hold above chart resistance at about 23,708, the peak on May
31, 2011. The benchmark lost 0.1 percent last week.
Elsewhere in Asia, Japan's Nikkei was up 0.2
percent, while South Korea's KOSPI was down 0.6 percent
at 0047 GMT.
FACTORS TO WATCH:
* Huaneng Power International Inc ,
China's largest independent power producer, expects 2012 net
profit to have increased by over 340 percent from 2011 due to
the carryover effect of tariff adjustments in 2011, it said in a
filing sent to the Hong Kong Stock Exchange on Sunday.
* Sweden's Volvo said it will surpass Daimler
as the world's biggest maker of heavy trucks after
agreeing to set up a joint venture in China with Dongfeng Motor
* CMA-CGM, the world's third-largest container shipper, said
it has agreed to sell a 49 percent stake in its Terminal Link
division for 400 million euros ($535 million) to China Merchants
* Guangzhou Automobile Group, one of
China's big state-owned auto enterprises, said it expects 2012
net profit to decline by 70 to 80 percent from a year earlier,
due to reduced sales after a political dispute between Japan and
China over some East China Sea islands.
* China Cosco Holdings Co Ltd , operator
of the world's largest bulk cargo fleet, said on Friday that it
expects to post a huge loss for the full year 2012 as the dry
bulk cargo market remained sluggish.
* CNOOC said it and Nexen have mutually
agreed to extend the "Outside Date" of an arrangement agreement
in realtion to the takeover of the Canadian oil and gas producer
by 30 days to March 2, 2013 as additional time is required to
obtain relevant regulatory approval.
* Yashili International Holdings Ltd said its
largest New Zealand supplier of milk powders Fonterra had
confirmed that no raw milk products detected with dicyandiamide
residues were supplied to the company.
* China Metal Recycling (Holdings) Ltd said
state-owned enterprise China Energy Conservation and
Environmental Protection Group would buy 341.17 million existing
shares, or 29 percent, of the company for HK$3.4 billion,
becoming the largest shareholder of the scrap metal recycling
company.(Reporting by Clement Tan and Donny Kwok; Editing by Richard