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Hong Kong shares seen flat after hitting 4-month high
September 17, 2012 / 1:11 AM / 5 years ago

Hong Kong shares seen flat after hitting 4-month high

HONG KONG, Sept 17 (Reuters) - Hong Kong shares are likely
to start the week flat or slightly higher on Monday, as
investors pause after consecutive weekly gains lifted the Hang
Seng Index to a four-month high last week.    
    The Chinese territory's de facto central bank last week
ordered banks to curb home loans to borrowers with more than one
mortgage in order to prevent the city being flooded with hot
money after the United States announced an aggressive new
stimulus plan to spur growth. 
    On Friday, the Hang Seng Index closed up 2.9 percent
at 20,629.8, its highest since early May. It rose 4.2 percent
last week, its strongest weekly performance since it posted a
4.7 percent rise in mid-January. 
    Elsewhere in Asia, South Korea's KOSPI was up 0.1 percent at
0059 GMT. Japan's financial markets are closed for a public
holiday.    
    
    FACTORS TO WATCH:
    * Las Vegas Sands deceived a Nevada court in an
attempt to stall a lawsuit by the former head of its Macau
operations, a state judge ruled on Friday, fining the casino
operator and abridging its right to object in a fight over key
evidence. The ruling gives former Sands China Chief
Executive Steve Jacobs new room to pursue his wrongful
termination case, which has become a public fight over the
leadership and business methods used by Sands Chief Executive
Sheldon Adelson. 
   * Russia's RUSAL, the world's largest aluminium
producer, wants Chinese companies to consider investing in new
smelting projects in Siberia, a senior executive of the metal
company said. 
    * The Canadian government's decision on whether to allow a
$15.1 billion takeover of Canadian oil producer Nexen Inc
 by China's CNOOC Ltd is important for the
future of the country, Finance Minister Jim Flaherty said on
Friday. 
    * Singapore's Fraser and Neave has agreed to sell
its 56.05 percent stake in Frasers Property (China) Ltd
 for S$261 million ($212 million)to a unit of
Shanghai-listed Gemdale Corporation, as it
streamlines its property business in China. 
    * China Construction Bank  wants to
expand its overseas presence through organic growth and
acquisitions, and aims to wrap up a takeover deal this year, C
ha irman Wang Hongzhang told Reuters. 
    * Sunshine Oilsands Ltd said it would repurchase
of up to 50 million Canadian dollar worth of Class A Common
voting shares through open market on the facilities of the Stock
Exchange of Hong Kong Limited. For statement, here
      
    * Melco International Development Ltd said its
major shareholder Lawrence Ho would exercise holdings of
HK$1.175 billion worth of Convertible Loan Notes into about
298.98 million new shares, raising his shareholding in the
company to about 48.5 percent from 36 percent. For statement, here
    * Chinese Estates Holdings Ltd said it had on Sept
14 lodged an appeal to the Court of Second Instance of Macau
against the government decision in relation to a land project.
For statement clicks here

 (Reporting by Clement Tan and Donny Kwok; Editing by Daniel
Magnowski)

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