Hong Kong shares seen weak, poised for monthly index gain
June 29 (Reuters) - Hong Kong shares could start weaker on Friday ahead of the release of the official China PMI over the weekend and the outcome of a two-day European leaders summit later in the day, but the benchmark index should record a monthly gain.
Data due over the weekend is expected to show that activity at China's factories fell to seven-month lows in June. That would compound market concerns that the economy is stuck in a deeper and longer downturn than anticipated.
On Thursday, the Hang Seng Index closed down 0.8 percent at 19,025.3. It is up 2.1 percent in June.
Elsewhere in Asia, Japan's Nikkei was down 0.6 percent and South Korea's Kospi was down 0.3 percent by 0047 GMT.
FACTORS TO WATCH:
* Tsingtao Brewery Co Ltd , China's second-largest beer maker by volume, has said chairman Jin Zhiguo has resigned with immediate effect for health reasons. The company said late on Thursday Jin would become honorary chairman, and president and executive director Sun Mingbo would take over as chairman.
* Manulife Financial Corp , Canada's largest life insurer, is expanding into Cambodia as part of a long-term bet on southeast Asia that could see the region eventually become the prime growth engine for the company.
* Telekom Austria's planned acquisition of budget mobile operator Yess from Orange faces an extended review by Austria's competition authorities, delaying Hutchison 3G's agreed $1.6 billion takeover of Orange Austria. Hutchison 3G Austria says still confident of approval of sale of Yess to Telekom Austria .
* China's Xinjiang Goldwind Science & Technology Co , China's second-biggest wind turbine maker, said it has sold its 19.5 megawatt Mortons Lane wind farm in Australia to CGN Wind Energy Ltd (CGNWE), a unit of China Guangdong Nuclear Power Group.
* Apple Inc's suppliers in China have violated local labour laws when they imposed excessive overtime and skimped on insurance, a New York-based labour rights group said. China Labor Watch interviewed 620 workers at 10 factories run by Apple suppliers, including Toyo Precision Appliance and BYD Electronic (International) Co. The group also spoke with workers at factories run by units of Quanta Computer Inc , Wintek Corp and U.S.-listed Jabil Circuit Inc.
* Chinese piped gas distributor China Gas Holdings Ltd posted 52.4 percent rise in profit to 953.9 million yuan for year ended in March, with revenue rising to 18.9 billion yuan from 15.9 billion yuan in a year ago period.
* China three major bourses, Hong Kong Exchanges Clearing Ltd (HKEx), the Shanghai Stock Exchange and the Shenzhen Stock Exchange, have formed a joint venture company to develop financial products and services, HKEx said in a statement on Thursday.
* Standard & Poor's Ratings Services said the rating and outlook on MIE Holdings Corp. are not affected by the company's announcement that it plans to invest in Sino Gas & Energy Ltd.
* China Agri-Industries Holdings Ltd said it expected to record a substantial decrease in its consolidated net profit for six months ending June as its profit margin has been squeezed due to rigorous challenges faced by the relevant industries and higher raw materials cost. For statement, here
* China Yurun Food Group Ltd said it noted of recent decrease in stock price and was not aware of any reason for the decrease. It also clarifies that the allegations and comments on its accounting misstatements are untrue, groundless and without basis. For statement, here (Reporting by Clement Tan and Donny Kwok; Editing by Eric Meijer)
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