June 15, 2012 / 1:05 AM / 6 years ago

Hong Kong stocks seen firmer, possible Esprit bounce

HONG KONG, June 15 (Reuters) - Hong Kong shares are seen opening slightly higher on Friday and poised to post a weekly gain but with turnover likely to remain muted ahead of crucial Greek elections at the weekend.

Stocks on Wall Street rose overnight after Reuters reported major central banks are ready to coordinate moves to keep markets operating smoothly by providing liquidity in case of turmoil after Sunday’s polls in Greece.

The Hang Seng index fell 1.2 percent on Thursday, while the China Enterprises index ended down 1.5 percent.

Elsewhere in Asia, Japan’s Nikkei was little changed, while South Korea’s KOSPI was down 0.9 percent as of 0040 GMT.

HIGHLIGHTS

* The outgoing chief executive of Esprit Holdings sought to reassure investors on Thursday that his family was the only reason behind his sudden resignation from the retailer and that a crucial turnaround plan would go ahead as planned.

* Sinopec Corp <, Asia’s largest refiner, will reduce its crude throughput by more than one million tonnes, or 243,000 barrels per day, this month, versus an earlier output target to trim high domestic inventories as demand slows, industry sources said.

* A unit of Bank of China , one of China’s big-four state-owned banks, has started an oil products trading desk in Singapore, industry sources said on Thursday. The team of three traders hired by the Bank of China International Holdings (BOCI) Limited will be focused primarily on building customer flow business for fuel oil and light distillates, sources said.

* Kingway Brewery Holdings Ltd said discussions and negotiations regarding sales of its brewery assets are continuing. No decision has been taken in respect of any transactions and the strategic review is also continuing, it said. For statement click here

* China Coal Energy Co Ltd said its commercial coal production volume fell 4 percent year-on-year in May to 8.82 million tonnes, while coal sales volume rose 8.9 percent during the month to 11.93 million tonnes. For statement click here

MARKET EVENTS

- China Forestry Holdings Co Ltd AGM in Beijing

- China Infrastructure Investment Ltd AGM

- China Mengniu Dairy Co Ltd AGM

- China Minsheng Banking Corp., Ltd AGM in Beijing

- China Water Industry Group Ltd AGM

- Hopson Development Holdings Ltd AGM

- Metallurgical Corporation of China Ltd AGM in Beijing

- OTO Holdings Ltd final results

- PetroAsian Energy Holdings Ltd final results

- Sa Sa International Holdings Ltd final results

- Shanghai Jin Jiang International Hotels (Group) Co Ltd AGM in Shanghai

- United Company RUSAL Plc AGM

- Wonderful Sky Financial Group Holdings Ltd final results

- Zhongsheng Group Holdings Ltd AGM

ECONOMIC DATA

- China foreign direct investment for May

- Euro zone employment for Q1

- UK trade balance for April

- US industrial output for May

- US capacity utilization for May

- US overall net capital flow for April

- US ECRI weekly index (Reporting by Vikram Subhedar; Editing by Paul Tait)

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