HONG KONG Aug 6 Hong Kong shares may start
lower on Tuesday, with HSBC in focus after Europe's
largest bank posted disappointing first half earnings, with its
rival Standard Chartered is due to report later in the
Several other companies are also slated to report half year
earnings, including ANTA Sports, China CITIC Bank
, China Everbright, Country Garden
and MGM China.
On Monday, the Hang Seng Index closed up 0.1 percent
at 22,222 points, while the China Enterprises Index of
the leading Chinese listings in Hong Kong slipped 0.1 percent.
Elsewhere in Asia, Japan's Nikkei was down 1.1
percent at 0028 GMT, while South Korea's KOSPI was down
FACTORS TO WATCH:
* HSBC posted lower than expected earnings
on Monday and said it might have to pay $1.6 billion in damages
over a U.S. lawsuit, reviving concerns over legacy issues and
growth prospects at Europe's biggest bank.
* Swedish automaker Volvo Car Corp, which is wholly owned
since 2010 by China's Zhejiang Geely Holding Group Co.
, said on Monday it sold 33,650 cars in July, a 14
percent increase over the same period a year ago, citing brisk
sales in China and Europe.
* Miner Glencore Xstrata said it agreed to
sell Joe White Maltings, a malt producer based in Australia, to
agribusiness giant Cargill Inc.
* Hang Seng Bank Ltd, which is 62 percent owned by
HSBC Holdings Plc , said its first half net
profit doubled to HK$18.5 billion.
* BMW's China joint venture BMW Brilliance
Automotive Ltd will recall 143,215 vehicles due to a problem
related to their electric power steering system, the country's
quality watchdog said on Monday.
* Evergrande Real Estate Group Limited said
contracted sales in July amounted to 8.11 billion yuan, bringing
the aggregate contracted sales for the period from January to
July to 52.72 billion yuan.
* Shui On Land Limited said its contracted
property sales amounted to 635 million yuan in July, bringing
the accumulated contracted property sales to 7.044 billion yuan
for the first seven months of 2013, representing 78 percent of
its full year property sales target of 9 billion yuan.
* Zhaojin Mining Industry Company Limited said it
expects to see a decrease in first half profit due to a
substantial drop in gold price and impairment provisions led by
lower product inventory value due to a decline in gold price.(Reporting by Clement Tan and Donny Kwok; Editing by Shri