August 28, 2013 / 1:01 AM / in 4 years

Hong Kong shares set to extend losses on Syria worries

HONG KONG, Aug 28 (Reuters) - Hong Kong shares are likely to extend their losses on Wednesday, tracking weaker global markets on geopolitical uncertainty over a possible U.S.-led military strike against the Syrian government.

On Tuesday, the Hang Seng Index closed down 0.6 percent at 21,874.77, while the China Enterprises Index of the top Chinese listings in Hong Kong fell 0.9 percent.

Elsewhere in Asia, Japan’s Nikkei was down 2 percent, while South Korea’s KOSPI was down 0.9 percent at 0045 GMT.

Agricultural Bank of China Ltd, China Life Insurance Co Ltd, China Minsheng Banking Corp. Ltd and Zoomlion Heavy Industry Science and Technology Co Ltd are among companies scheduled to announce earnings on Wednesday.


* Australia’s Arrow LNG, a joint venture between Royal Dutch Shell and PetroChina, is looking at an option of building on a rival’s LNG site to restart its own stalled gas export plans, a source close to the situation said.

* Haier Electronics Group Co Ltd, which manufactures and sells washing machines and water heaters, said its first half net profit rose 15.4 percent to 821.8 million yuan.

* KKR & Co and TPG Capital are out of the running in the auction for Hutchison Whampoa Ltd’s Hong Kong supermarket chain ParknShop, people close to the matter told Reuters, after their offers failed to meet the company’s expectations.

* Coal mining transportation equipment maker Sany Heavy Equipment International Holdings Co Ltd said its net profit fell 39 percent for the first half of 2013 at 295.1 million yuan.

* Air China Ltd is poised to emerge as the best performer among China’s big carriers in a slow first half of the year, benefiting from a rapid expansion to foreign destinations that now account for 40 percent of its revenue.

* Dongfeng Motor Group Co Ltd, the Chinese partner of Nissan Motors Co and Honda Motor Co, posted a 3.1 percent rise in first-half earnings, weighed down its Sino-Japanese car ventures that have struggled to fully recover following an outbreak of anti-Japan sentiment last year.

* CSR Corporation Ltd , which is the world’s second-biggest railway equipment maker, posted a 24 percent fall in first half profit at 1.5 billion yuan.

* GOME Electrical Appliances Holding Ltd, a top Chinese home appliance retailer backed by private equity firm Bain Capital, swung to the black in first half with a net profit of 322 million yuan.

* China Communications Construction Co Ltd , the country’s largest builder of ports, said its first half net profit rose 14 percent to 5.7 billion yuan.

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