HONG KONG Feb 20 Hong Kong shares are set to
open higher on the back of Wall Street gains overnight, although
the property segment is expected to remain weak on concerns that
both Beijing and Hong Kong would launch more curbs to cool
rising property prices.
On Tuesday, Hong Kong shares declined for a second straight
day with the blue chip Hang Seng Index closing down 1
percent at 23,143.91. The China Enterprises Index of the
top Chinese listings in Hong Kong shed 1.8 percent.
Elsewhere in Asia, Japan's Nikkei rose 0.8 percent
in early trade on Monday, while South Korea's KOSPI was
up 0.6 percent.
FACTORS TO WATCH:
* Italian fashion house Prada SpA, which competes
with LVMH's Louis Vuitton and PPR's Gucci,
said on Tuesday its preliminary revenues rose 29 percent for the
12 months ended in January, driven by sales in Europe and the
* Colombia's Bancolombia has agreed to purchase
HSBC Bank S.A. in Panama for $2.1 billion, the
company said in a filing to local regulators on Tuesday.
* The Philippine unit of Macau casino company Melco Crown
Entertainment Ltd said on Tuesday it plans to sell up
to 1 billion shares as it prepares to develop a $1 billion
casino-resort project with local partner Belle Corp.
* Glorious Property Holdings Ltd said it planned
to issue U.S. dollar senior notes, raising capital to refinance
debt and for general corporate purposes.
* Cosmetics retailer Sa Sa International Holdings Ltd
said it recorded a 30 percent year-on-year growth in
retail sales in Hong Kong and Macau during the first seven days
of Chinese New Year between February 10 and 16, and 20 percent
growth in same store sales.(Reporting by Donny Kwok; Editing by Shri Navaratnam)