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Hong Kong shares may slip from August 2011 highs
December 20, 2012 / 1:11 AM / in 5 years

Hong Kong shares may slip from August 2011 highs

HONG KONG, Dec 20 (Reuters) - Hong Kong shares could slip
from near 17-month highs at Thursday's open on stalled talks to
avert a U.S. fiscal crisis and as investors await more possible
easing at the conclusion of a Bank of Japan meeting later in the
    On Wednesday, the Hang Seng Index closed up 0.6
percent at 22,623.4, its highest close since Aug. 1, 2011. Stiff
chart resistance is next seen at about 22,800, peaks reached in
July-August 2011.
    Elsewhere in Asia, Japan's Nikkei was down 1
percent, while South Korea's KOSPI was up 0.1 percent at
0051 GMT.
    * The Hong Kong Monetary Authority (HKMA) stepped into the
currency market late on Wednesday, selling HK$4.495 billion
($580.00 million) in Hong Kong dollars as the local currency
 repeatedly hit the strong end of its trading range.    
    * China's central bank could target 9 trillion yuan ($1.4
trillion) in new local currency loans in 2013, up from an
expected 8.4-8.5 trillion yuan this year, the Bank of
Communications (BoCom)  said on Wednesday.
[ID: nL5E8NJ3FW]
    * China has started work on 22 major investment projects in
its western provinces this year worth 577.8 billion yuan ($92.7
billion) to boost economic development in the country's vast
hinterland, the top economic planning agency said on Wednesday.
    * Trading in the shares of China Vanadium Titano-Magnetite
Mining Company will be suspended on Thursday,
according to an exchange filing. No further details were
available.* China Zhongsheng Resources Holdings said it
acquired a 95 percent equity stake in Luxing Titanium for 20.9
million yuan.(Reporting by Clement Tan; Editing by Jeremy Laurence)

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