November 7, 2012 / 1:10 AM / in 5 years

Hong Kong shares seen steady ahead of U.S. election result

HONG KONG, Nov 7 (Reuters) - Hong Kong shares could start
flat or slightly weaker on Wednesday, as investors await the
result of the U.S. presidential election which could emerge at
some point during the Asian trading day.
    On Tuesday, the Hang Seng Index closed down 0.3
percent at 21,944.4, slipping a second day from a 2012 closing
high recorded last Friday. 
    Elsewhere in Asia, Japan's Nikkei was flat, while
South Korea's KOSPI was down 0.2 percent at 0056 GMT.
    * A top legislator in Canada's ruling Conservative Party on
Tuesday made public his fierce opposition to a bid by China's
CNOOC Ltd for Nexen Inc, underlining the
political challenges facing Ottawa as it studies the takeover.
    * China's Sinopec is close to buying stakes in
Nigerian onshore oil blocks from French oil major Total
 worth about $2.4 billion, the Bloomberg news agency
reported on Tuesday, citing two people familiar with the matter.
    * Russian group Norilsk Nickel, the world's top
nickel and palladium producer, may delay a cancellation of
treasury stock which could have boosted its share price due to a
legal dispute with shareholder RUSAL. 
    * Philippine Long Distance Telephone Co (PLDT),
part-owned by Hong Kong's First Pacific Co Ltd,
Japan's NTT Communications and NTT DoCoMo, posted flat
quarterly profit growth as rising costs from sales promotions
offset higher service revenues. 
    * Outlet malls operator PCD Stores (Group) Ltd 
said its chairman and controlling shareholder Alfred Chan was in
preliminary discussions with parties which may lead to his
increasing his stake in the company's shares but no agreement
had yet been reached. Trading in shares will resume on Wednesday
after suspension in Tuesday.* Haitong Securities Co Ltd said its net profit for
October amounted to 161.4 million yuan with operating income of
about 410 million yuan.* Casino gaming and entertainment resort operator Melco
Crown Entertainment Ltd said it intended to conduct an
international offering of senior notes due 2020 raising proceeds
to fund its Studio City project.* China SCE Property Holdings Ltd said it would
issue $200 million 11.5 percent senior notes due 2017, raising
capital to finance projects, including construction costs and
land costs.(Reporting by Clement Tan and Donny Kwok; Editing by Eric
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