Hong Kong stocks seen up on overseas gains, inflows
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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