Hong Kong shares seen lower, weekly gain in doubt
June 22 (Reuters) - Hong Kong shares could end the week lower on Friday, tracking overnight weakness on Wall Street after global manufacturing data disappointed, with the losses poised to wipe out weekly gains for benchmark indices.
Global stocks fell 2 percent and Brent crude oil ended at its lowest in 18 months on Thursday as data showing Chinese, European and U.S. manufacturing activity slowing further underscored worries about weaker global growth.
In a measure of negative market sentiment, South African coal miner LontohCoal has delayed its $1 billion Hong Kong initial public offering due to difficult market conditions, extending the time frame for the listing to the end of February next year, its chief executive said.
On Thursday, the Hang Seng Index slid 1.3 percent to 19,265.1, its biggest one-day loss since a 2 percent drop on June 4. It is up 0.2 percent on the week to date.
Elsewhere in Asia, Japan's Nikkei was down 0.9 percent and South Korea's Kospi was down 1.7 percent by 0033 GMT.
FACTORS TO WATCH:
* Two of China's top telecommunications companies may be selling subsidized gear in the United States, and legislation could be proposed to deal with any related national-security threat, the head of the U.S. House of Representatives' Intelligence Committee said on Thursday. The committee is investigating what some U.S. officials suspect are close ties between the Chinese government and the firms, Huawei Technologies Co Ltd and ZTE Corp.
* Around $1 billion was wiped off Evergrande Real Estate Group Ltd's market value on Thursday after short-seller Citron Research said China's second-largest property developer was insolvent and accused it of bribery.
* Moody's downgraded the credit rating of HSBC Holdings Plc by a notch, from Aa3 to Aa2, one of 15 global banks to have been subjected to the revision.
* First Pacific Co Ltd said its wholly-owned FPC Finance Ltd would issue $400 million 6.0 percent guaranteed bonds due 2019, raising net proceeds to be on-lent to the company for general corporate purposes. For statement click here
* China CITIC Bank Corporation Ltd said it had issued 20 billion yuan 15 years subordinated bonds, with coupon rate of 5.15 percent, on the interbank bond market, raising funds to replenish the bank's supplementary capital. For statement click here
* The Wharf (Holdings) Ltd said it has appointed Arthur Li as an independent non-executive director of the company. Li is currently the deputy chairman and a non-executive director of The Bank of East Asia Ltd, and an independent non-executive director of Shangri-La Asia Ltd and China Flooring Holding Co Ltd. For statement click here (Reporting by Clement Tan and Donny Kwok; Editing by Muralikumar Anantharaman)
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