HONG KONG Feb 6 Hong Kong shares are set to
start firmer after falling to a one-month low in the previous
session, buoyed by a solid lead offsore on positive U.S. and
euro zone economic data.
On Tuesday, the Hang Seng Index fell 2.3 percent to
23,148.5 points, its worst single-day loss since Nov. 8, weighed
by a share placement by oil refiner Sinopec. The China
Enterprises Index of the top Chinese listings in Hong
Kong slid 2.8 percent to its lowest in about a month.
China unveiled sweeping tax reforms late on Tuesday to make
wealthy state-owned firms, property speculators and the rich pay
more to narrow a yawning gap between an urban elite and hundreds
of millions of rural poor.
Elsewhere in Asia, Japan's Nikkei was up 2.4
percent, while South Korea's KOSPI was up 0.3 percent at
FACTORS TO WATCH:
* SABMiller, the world's second-biggest brewer, is
to expand further into high-growth regional markets in China
after a local joint venture with China Resources Enterprise
agreed to buy Kingway Brewery assets for
5.38 billion yuan ($863 million).
* Hong Kong property and investment company Great Eagle
Holdings Ltd has mandated HSBC Plc and
Deutsche Bank AG to lead a proposed $800 million
initial public offering for its full-service hotel business, IFR
reported on Tuesday, citing sources with knowledge of the plans.
* Container shipping companies, including industry leader
Maersk Line, are seeking spot freight rate hikes of around 16
percent on Asia to North America routes, aiming to set a
benchmark for upcoming negotiations on key annual price
contracts. An industry group that includes the unit of A.P.
Moeller Maersk and China COSCO's
COSCO Container Lines has recommended general rate
rises of $400 per 40-foot equivalent unit (FEU) to the U.S. West
Coast, effective April 1.
* Silver Wheaton Corp said on Tuesday it had signed
a $1.9 billion deal with Brazil's Vale SA to
acquire a share of the gold produced at some of the company's
mines in Brazil and Canada.
* Yantai North Andre Juice Co Ltd said it proposed
to issue up to 100 million A shares in China and would seek
regulatory approval for a listing of the shares in Shanghai or
Shenzhen, raising proceeds to fund a 412 million yuan expansion
of its is juice concentrate production lines in the mainland.
* Yuexiu Property Co Ltd said its contracted sales
value for January amounted to about 2.88 billion yuan, up 1,789
percent from the same period a year ago.
* Coal and bulk commodity trader and property investor China
Chengtong Development Group Ltd said it expected its
2012 net profit to rise significantly due to a significant
increase in its volume of bulk commodity trade during the year
and gains derived from negative goodwill.
* Zhongyu Gas Holdings Ltd said it expected to
post a significant increase in profit for 2012 thanks to an
improvement in sales of piped gas, gas pipeline construction and
sales of natural gas during the year.
* KWG Property Holding Ltd said its pre-sales
value for January amounted to about 1.34 billion yuan,
representing a month-on-month increase of 32 percent and a
year-on-year increase of 231 percent.(Reporting by Clement Tan and Donny Kwok; Editing by Richard