HONG KONG Dec 4 Hong Kong shares could see a
second straight day of losses on Tuesday, tracking Wall Street's
fall after data showed factory activity in the United States
hitting a three-year low in November.
The decline broke a three-day streak of gains for the S&P
500, keeping it shy of its 50-day moving average of about
1,420, a level that the index has been below since Oct. 22, and
now serving as a key resistance point for investors.
On Monday, the Hang Seng Index closed down 1.2
percent at 21,767.9, after earlier testing a new intra-day 2012
high at 22,162.5. The China Enterprises Index of the top
Chinese listings in Hong Kong shed 1.5 percent.
Elsewhere in Asia, Japan's Nikkei was down 0.2 percent,
while South Korea's KOSPI was down 0.4 percent at 0050
FACTORS TO WATCH:
* U.S. regulators on Monday charged the Chinese arms of five
top accounting firms with securities violations over their
refusal to produce certain audit papers for U.S.-listed Chinese
* Brazil's Vale SA , the world's
second-largest mining company, cut estimated 2013 capital
spending by 24 percent after a global slowdown and a drop in
iron ore prices led the company to rethink expansion.
* Italian private equity fund Clessidra has made an offer to
buy Italy's third-largest commercial broadcaster Telecom Italia
Media, two sources said on Monday. Other potential
bidders were Hutchison Whampoa's Italian telecoms
operator, U.S. TV group Discovery Communications and
advertising firm Cairo Communication.
* Husky Energy Inc, Canada's No.3 integrated oil
company, said it expects higher output in 2013 as it increases
oil production and cuts back on natural gas. Husky, controlled
by Hong Kong billionaire Li Ka-shing's Hutchison, said
it expects to produce 310,000 to 330,000 barrels of oil
equivalent per day (boepd) in 2013.
* China's Huaxia Bank Co Ltd blamed a weekend
panic on a rogue employee whom it said sold a high-risk
investment vehicle without authorisation, a case highlighting
the risks tied to the country's boom in loosely regulated wealth
* Asia's top refiner Sinopec will
nearly double the amount of term crude it buys from Iraq next
year to 270,000 barrels per day (bpd) as it looks to replace oil
from Iran, trade sources said on Monday.
* Government data showed on Monday that gambling revenue in
Macau, the world's largest casino market, rose 7.9 percent in
* HSBC said its strategy and planning boss
John Flint is to take over as head of retail banking and wealth
management (RBWM) next year to replace veteran banker Paul
Thurston, who is retiring.
* Sino Oil and Gas Holdings Ltd said it would team
with its parent to jointly invest in coal bed methane liquefied
natural gas plant located in Sanjiao area in China's Shanxi
* Shui On Land Ltd said it would issue $500
million senior perpetual capital securities to fund capital
expenditures related to its real estate operations and to repay
debt.(Reporting by Clement Tan and Donny Kwok; Editing by Eric