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Hong Kong shares seen higher, Kunlun Energy in focus
November 19, 2012 / 1:12 AM / 5 years ago

Hong Kong shares seen higher, Kunlun Energy in focus

HONG KONG, Nov 19 (Reuters) - Hong Kong shares could start
higher on Monday after Wall Street ended last week slightly
firmer reflecting hopes that U.S. politicians can avert a fiscal
    After markets closed last Friday, the index manager
announced that Kunlun Energy will become the Hang Seng
Index's 50th component. Chinese automaker Great Wall Motor
 will replace sector rival BYD Co Ltd as the
China Enterprises Index's 40th constituent stock.
    Both changes are effective from December 10.    
    Last Friday, the Hang Seng Index rose 0.2 percent,
but ended down 1.1 percent on the week at 21,159 points. The
China Enterprises Index of the top Chinese listings in
Hong Kong gained 0.4 percent, but shed 2 percent last week.
    Elsewhere in Asia, Japan's Nikkei was up 1.3
percent, while South Korea's KOSPI was up 0.9 percent at
0054 GMT.
    * Home prices in China rose 0.05 percent in October from
September, according to calculations based on official data
announced on Sunday, adding to evidence of a recent mild
recovery in the country's property market - frustrating the
government's efforts to temper prices. 
    * Chinese telecom equipment maker ZTE Corp 
 will sell its controlling stake in Changfei Investment
as part of a plan to shore up working capital and divest
non-core assets. The 81 percent stake is being sold to CCBI and
Guangdong All Access for a total of 1.3 billion yuan ($208.6
million) in cash. 
    * China Construction Bank's  wealth
management products (WMP) account for only seven percent of its
total funding, the bank disclosed, although concerns remain that
other Chinese banks are relying heavily on sales of the
off-balance-sheet products to supplement their eroding deposit
    * Chinese medical devices producer Shandong Weigao Group
Medical Polymer Co Ltd said its third quarter profit
rose 8.8 percent to 271 million yuan. 
    * Parkson Retail Group Ltd, which operates
department stores in China, said its net profit for third
quarter of the year fell 42 percent to 149 million yuan.
    * China COSCO Holdings Co Ltd said it is proposing
to issue U.S. dollar bond raising capital to on-lend to its
offshore subsidiaries and affiliates for general corporate
purposes. The amount, terms and conditions of the bonds have yet
to be determined.* Geely Automobile Holdings Ltd said it would
recall up to a total 310,976 vehicles to reinstall a new access
panel, but said the financial impact of the recall would be
immaterial on a consolidated basis and will not have any adverse
impact on its operations.(Reporting by Clement Tan and Donny Kwok; Editing by Eric

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