HONG KONG Aug 15 Hong Kong shares may start
lower on Thursday as investors return to the market after a
typhoon forced the cancellation of trade on Wednesday, with the
early focus likely on Chinese internet giant Tencent Holdings
after its quarterly earnings came in below expectations.
Tencent, China's largest Internet company by
revenue, missed analysts' estimates with an 18.4 percent rise in
second-quarter profit as higher marketing costs for its WeChat
social messaging service hurt earnings.
Other companies due to report earnings later in the day
include China Mobile, Anhui Conch Cement,
Swire Pacific and Hong Kong Exchanges
On Tuesday, the Hang Seng Index ended up 1.2 percent
at 22,541.1 points, the highest closing level since May 29. The
China Enterprises Index of the top Chinese listings in
Hong Kong jumped 2.6 percent.
Elsewhere in Asia at 0050 GMT, Japan's Nikkei was
down 1.3 percent. South Korea's markets are shut on Thursday for
a public holiday.
FACTORS TO WATCH:
* China is intensifying its investigation into rampant
bribery in the pharmaceutical and medical services sector with a
fresh three-month probe slated to begin on Thursday, the
official Xinhua news agency reported.
* Lenovo Group Ltd, the world's largest PC maker,
booked a forecast-beating 23 percent jump in April-June net
profit to deliver its second-best quarterly earnings, as its
push into smartphones and tablets begins to bear fruit.
* China's biggest hypermarket chain Sun Art Retail Group Ltd
posted a 14.8 percent increase in first-half net
profit as an increase in the number of its stores helped it
shrug off an economic slowdown.
* Macau casino SJM Holdings Ltd, controlled by the
family of gambling tycoon Stanley Ho, posted a 12 percent rise
in first-half net profit thanks to solid demand from gamblers
eager to bet in China's only legal casino hub.
* China's Baidu Inc said on Wednesday it has agreed
to buy the app store of Hong Kong-listed Netdragon Websoft Inc
for $1.85 billion in cash in what would be the biggest
deal in China's IT sector.
* China National Offshore Oil Corp (CNOOC) has won final
government approval to build the country's first floating
liquefied natural gas (LNG) terminal, the company said on
* Cathay Pacific Airways Ltd, the world's largest
international air cargo carrier, is scaling back seating
capacity on some long-haul routes to offset declines in its air
freight business, allowing it to post a first-half net profit on
* Sports shoe manufacturer Yue Yuen Industrial (Holdings)
Ltd said its first half net profit fell 29 percent to
* China's CITIC Pacific said repairs at its
Australian iron ore project were taking longer than expected and
gave no date for starting shipments from the vastly over-budget
$8 billion project, already around four years behind schedule.
Its first half net profit fell 19 percent to HK$4.5 billion.
* Chinese gold producer Zijin Mining Group Co Ltd
said first half net profit plunged 54 percent to 1.1
* Global sourcing firm Li & Fung Ltd's first-half
net profit tumbled nearly 70 percent to its lowest level in
eight years on sluggish consumer sentiment in Europe and the
United States, but it said it was on track to recover this year.
* Brilliance China Automotive Holdings Ltd, which
manufactures minibuses, automotive components and sedans in
China, posted a 52 percent rise in first half net profit to 2.03
* China Mengniu Dairy Co Ltd said it holds 3.197
billion shares, or 89.82 percent, of Yashili International
Holdings Ltd at close of a general offer. Trading in
Yashili shares will suspend pending restoration of the public
float.(Reporting by Clement Tan; Editing by Shri Navaratnam)