HK shares may rise as Wall St gains; eyes on Lenovo

HONG KONG, Nov 6 (Reuters) - Hong Kong shares may rise for a
second day on Friday, spurred by gains on Wall Street and
encouraging U.S. economic data, while Lenovo (0992.HK) will
likely be in focus after a strong quarterly result.

Net profit at Lenovo, the world's No. 4 PC maker, more than
doubled in July-September, lifted by a one-off gain from the
disposal of some investments. But the outlook remained
challenging, it said. [ID:nHKG157597]

"The Hong Kong market will rise today mainly because of the
much stronger U.S. market," said Francis Lun, general manager at
Fulbright Securities.

"We should look at mainland property shares today because of
the much higher debut of Evergrande yesterday. Exporters may also
rise because of the U.S. recovery."

Wall Street rose sharply on Thursday, pushing the S&P higher
for a fourth day, as investors cheered data showing a
surprisingly higher U.S. non-farm productivity and upbeat results
from Cisco Systems (CSCO.O). [ID:nN05141419]

The benchmark Hang Seng Index .HSI ended down 0.63 percent
on Thursday to 21,479.08, retreating from a 1.76 percent gain in
the previous session. It was the third time this week that the
index had fallen.

Chinese developer Evergrande Real Estate (3333.HK) closed up
34.3 percent on its trading debut on Thursday, outperforming the
broad market.
The HSI may gain about 300 points on Friday, Lun added.

The market will be eyeing the October U.S. jobs data later on
Friday, one of the key indicators to gauge the health of the
world's largest economy and Asia's top export market.

STOCKS TO WATCH:

* Zijin Mining (2899.HK) said its shareholders had approved
its plan to issue up to 7.5 billion yuan worth of medium and
short term notes. For statement please click
here
* Manulife Financial Corp (MFC.TO) (0945.HK), North America's
largest life insurer, said on Thursday it had a loss of C$172
million ($162 million) in the third quarter as lower corporate
bond yields and a change to actuarial assumptions offset stock
market gains, compared with earnings of C$510 million in the same
period last year. [ID:nN049268]
----------------------MARKET SNAPSHOT @ 2251 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1066.63 1.92% 20.130
USD/JPY JPY= 90.74 0.07% 0.060
10-YR US TSY YLD US10YT=RR 3.5274 -- 0.007
SPOT GOLD XAU= 1088.9 -0.06% -0.650 US
CRUDE CLc1 79.62 0.00% -0.780
DOW JONES .DJI 10005.96 2.08% 203.82
-------------------------------------------------------------
> Wall St rallies on economic data, Cisco [.N]
> Dollar up modestly ahead of jobs data [USD/]
> Steady rate outlook supports short end [US/]
> Gold falls on investor disappointment, eyes $1,100 [GOL/]
> Oil falls below $80; demand outlook uncertain [O/R]

(Reporting by Jun Ebias; Editing by Ken Wills)