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Hong Kong stocks seen up on overseas gains, inflows

Mon Nov 9, 2009 7:02am IST
 
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 HONG KONG, Nov 9 (Reuters) - Hong Kong shares are set to rise
on Monday tracking firmer overseas markets with a persistent
inflow of funds supporting a further rise in the local market and
Chinese finance stocks expected to lead.
 "Sentiment remains positive on a continuous inflow of funds,"
said Patrick Yiu, a director at CASH Asset Management, adding
that Chinese financial stocks may lead the rise.
 The benchmark Hang Seng Index .HSI ended up 1.63 percent on
Friday at 21,829.72, its highest in more than a week.
 The China Enterprises Index .HSCE of top locally listed
mainland Chinese stocks rose 1.66 percent to 13,017.20.
 STOCKS TO WATCH:
 * Banks in China are expected to lend 8-9 trillion yuan
($1.2-$1.3 billion) in 2010, slowing a touch from this year's
likely new-loan total of 10 trillion yuan, Bank of Communications
(BoCom) said on Saturday. As for asset quality, BoCom (3328.HK: Quote, Profile, Research)
(601328.SS: Quote, Profile, Research) said system-wide non-performing loans (NPLs) would
remain steady; the NPL ratio might even fall because of growth in
outstanding loans. [ID:nPEK214189]
----------------------MARKET SNAPSHOT @ 2317 GMT ------------
               INSTRUMENT   LAST       PCT CHG    NET CHG
S&P 500             .SPX       1069.3       0.25%     2.670
USD/JPY             JPY=       89.75       -0.24%    -0.220
10-YR US TSY YLD    US10YT=RR  3.5008          --     0.000
SPOT GOLD           XAU=       1097.65      0.12%     1.350
US CRUDE            CLc1       78.07        0.83%     0.640
DOW JONES           .DJI       10023.42     0.17%     17.46
ASIA ADRS                 122.54      -0.10%     -0.12
-------------------------------------------------------------
> Wall St rises 3 pct for week on Friday's slim gain   [.N]
> Dollar under pressure, commodity currencies jump   [USD/]
> Most prices rise on weak employment picture         [US/]
> Gold mostly flat, hovers under $1,100              [GOL/]
> Oil rises as Hurricane Ida threatens oil fields     [O/R]
 (Reporting by Donny Kwok; editing by Jacqueline Wong)



































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