HONG KONG, Oct 8 (Reuters) - Hong Kong stocks are set to open 0.83 percent higher, with shipping companies rising on higher freight costs, while local developers gain on hopes a global economic recovery will lift demand for property.
The benchmark Hang Seng Index .HSI was set to open up 176.68 points at 21,418.27. The China Enterprises Index .HSCE of top locally listed mainland Chinese stocks was set to rise 0.90 percent to 12,430.12.
China Cosco (1919.HK) rose 1.96 percent, while China Shipping Development (1138.HK) was up 2.23 percent. The Baltic Exchange's main sea freight index .BADI, which tracks shipping rates for dry commodities, rose to a seven-week high on Wednesday. [ID:nL7708072]
Hong Kong developer Sun Hung Kai Properties (0016.HK) advanced 2.84 percent. (Reporting by Jun Ebias; Editing by Chris Lewis)