June 26, 2013 / 1:31 AM / in 5 years

Hong Kong shares to open up 1.2 pct, China Coal Energy rises

HONG KONG, June 26 (Reuters) - Hong Kong shares were set to start higher on Wednesday after China’s central bank sought to ease fears of a credit crunch, with China Coal Energy Co Ltd seen rising 4.8 percent to be the top percentage gainer among Hang Seng Index components.

The Hang Seng Index was set to open up 1.2 percent at 20,090.76. The China Enterprises Index of the top Chinese listings in Hong Kong was indicated to open 1.9 percent higher.

China’s central bank said on Tuesday it will not turn the screws too hard on banks in its drive to curb easy credit, seeking to allay fears of a banking crisis that had driven SHanghai shares to their lowest in nearly 4-1/2 years on Tuesday.

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