HONG KONG Feb 19 Hong Kong shares are set to
open flat in a sluggish market, as investors keep to the
sidelines ahead of corporate earnings results from major blue
chips in the next few weeks.
On Monday, the Hang Seng Index closed down 0.3
percent at 23,381.94, weighed down by Chinese insurers and banks
and pressured by losses in mainland China after the long holiday
break. The China Enterprises Index of the top Chinese
listings in Hong Kong shed 0.9 percent.
Elsewhere in Asia, Japan's Nikkei was down 0.24
percent, while South Korea's KOSPI eased 0.07 percent at
FACTORS TO WATCH:
* SCMP Group Ltd, the publisher of Hong Kong's
South China Morning Post newspaper, said on Monday it is in
talks regarding the possible acquisition of a group of media
companies in Hong Kong.
* China's Zhejiang Geely Holding Group is
favoured to secure a majority stake in troubled U.S. electric
car maker Fisker Automotive, according to two sources familiar
with Fisker's search for a strategic investor or partner. Fisker
is currently weighing bids from two Chinese auto makers: Geely
and Dongfeng Motor Group Co..
* Chinese gold miner Zijin Mining Group Co Ltd
, said on Monday its 2012 unaudited net profit fell 9
percent, weighed down by losses at its smelting entities and
higher production and management costs.
* Hong Kong tycoon Li Ka-shing's property firm Cheung Kong
(Holdings) Ltd said on Monday it had dropped a plan to
list its extended stay hotel business and would instead sell
part of the unit to generate cash.
* Brazil's Vale SA 6210.HK>, the world's
No. 2 mining company, declared force majeure on a number of coal
shipment contracts from Mozambique on Feb. 15 after heavy rain
halted rail shipments, according to a securities filing late on
* Russia's top crude producer Rosneft said its
chief executive had started talks in China over the possibility
of increasing oil supplies to the world's largest energy
consumer. The company said it had discussed the possibility of
joint development of Russia's shelf with Sinopec
and CNPC, parent of refiner PetroChina
* Guangshen Railway Company Ltd said the National
Development and Reform Commission and the Ministry of Railways
are finalizing a proposal in relation to an adjustment on rail
freight rates in China in the near future.
* Intelligent surveillance disaster alert and rescure
coordination systems distributor Anxin-China Holdings Ltd
said it expected to record a substantial increase in
2012 net profit due to an increase in the number of surveillance
points installed in China.
* Cheuk Nang (Holdings) Ltd said it expected to
record a significant increase in profit for the six months ended
in December thanks to an increase in change in fair value of
investment properties and gain in fair value adjustment of