December 5, 2012 / 1:11 AM / in 5 years

Hong Kong shares may creep lower, U.S. fiscal fears weigh

HONG KONG, Dec 5 (Reuters) - Hong Kong shares could start
slightly lower on Wednesday, hindered by concerns about whether
U.S. policymakers can reach a budget agreement by year-end to
avert a fiscal crisis.
    A private survey of China's growing services sector due
around 0145 GMT could provide fresh signs that the world's
second-largest economy is recovering from lows.
    On Tuesday, the benchmark Hang Seng Index ended the
day up 0.2 percent at 21,800 points while the China Enterprises
Index of top locally listed mainland shares rose 0.6
    Elsewhere in Asia, Japan's Nikkei was down 0.2
percent, while South Korea's KOSPI was down 0.1 percent
at 0055 GMT.
    * HSBC  said on Wednesday it has sold its
entire HK$72.7 billion ($9.38 billion) stake in Chinese insurer
Ping An Insurance , as the bank seeks to
sell non-core holdings. 
    * European luxury goods makers knocked back predictions of a
boost to sales early next year, saying that economic gloom will
continue to discourage shoppers from splashing out on designer
dresses and leather handbags.    
    * China Vanke Co Ltd, the country's largest real
estate developer by turnover, more than doubled sales in
November from a year earlier to 17.13 billion yuan ($2.75
    * ZTE Corp , the world's No.5 telecom
equipment maker, said on Tuesday it had signed a $20 billion
financing agreement with Chinese policy bank China Development
Bank (CDB). 
    * Standard Chartered  aims to double
revenue from its commodities business in the next four years,
tapping its substantial emerging markets client base to
strengthen its hand and opening a new trading office in China.
    * Honda Motor Co Ltd and its Chinese joint ventures
sold 41,205 vehicles in China in November, down 29.2 percent
from a year earlier, the Japanese automaker said on Tuesday.
Honda makes vehicles in China in partnership with Dongfeng Motor
Group Co and Guangzhou Automobile Group Co.
    * The Bank of East Asia Ltd said it would sell
111.57 million new shares, or 5.01 percent of the enlarged share
capital, at HK$29.59 per share to Sumitomo Mitsui Banking
Corporation for HK$3.3 billion. Sumitomo Mitsui's stake in the
Hong Kong-listed bank will be increased to 9.5 percent after the
deal.* China Aoyuan Property Group Ltd said it expected
to record a significant increase in net profit for year ending
December as compared to the same period a year ago due to gain
from substantial disposal.(Reporting by Clement Tan and Donny Kwok; Editing by Jeremy
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