HONG KONG, August 7 Hong Kong shares may start
lower on Wednesday, likely hit by Wall Street losses as
investors continued to fret about when the U.S. Federal Reserve
would start to wind down its stimulus program.
On Tuesday, the Hang Seng Index closed down 1.3
percent at 21,923.7 points in its biggest daily loss since July
8. The China Enterprises Index of the leading Chinese
listings in Hong Kong shed 0.8 percent.
Elsewhere in Asia, Japan's Nikkei was down 2.3
percent, while South Korea's KOSPI was down 0.7 percent
at 0042 GMT.
FACTORS TO WATCH:
* Asia-focused bank Standard Chartered
took a $1 billion hit on the value of its troubled Korean
business on Tuesday, dragging earnings down 16 percent and
warning of a slow turnaround in its most difficult market.
* Chinese infant milk producer Biostime International
Holdings Ltd said on Wednesday it had been fined 162.9
million yuan ($26.61 million) after an investigation by China's
top economic planning agency had found it guilty of
* France's stockmarket regulator said it extended a takeover
bid for French resort group Club Med by China's Fosun
International and AXA Private Equity after
* Russian aluminium producer Rusal may cut more
production this year than it previously planned after being hit
by a sharp fall of the metal's price, its CEO was quoted as
saying in an interview.
* China Vanke Co Ltd, the largest mainland
Chinese property developer by sales, reported a 22.3 percent
rise in net profit for the first half of 2013.
* MGM Resorts International, parent of MGM China
Holdings Ltd, said its Q2 loss per share was at $0.19
while revenue rose 7 percent to $2.5 billion.
* PCCW Ltd, which invests in and develops
technology-related businesses and is Hong Kong's dominant
fixed-line telephone operator, said its first half net profit
rose 2 percent at HK$856 million.
* Cosmetic and skincare products retail chain operator
Bonjour Holdings Limited said it expected its profit
for the period ended in June to increase by 40-50 percent year
on year due to increase in turnover.
* Want Want China Holdings Limited said it neither
procures whey protein concentrate or dairy base powder for its
raw materials, and its operations are unaffected by possible
Chinese government banning imports of products containing whey
protein concentrate and dairy base powder.