Hong Kong shares to hover around 19-1/2 mth high ahead of BOJ

Tue Jan 22, 2013 1:00am GMT

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HONG KONG, Jan 22 (Reuters) - Hong Kong shares may hover at
a 19-1/2 month high on Tuesday as investors brace for expected
policy easing from the Japanese central bank, with turnover
likely subdued due to a holiday in the United States. 
    On Monday, the Hang Seng Index closed down 0.1
percent at 23,590.9, after hitting its highest since June 1,
2011 on Friday. The China Enterprises Index of the top
Chinese listings in Hong Kong inched up 0.1 percent.
 
    Elsewhere in Asia, Japan's Nikkei was up 0.2
percent, while South Korea's KOSPI was up 0.1 percent at
0028 GMT.
    
    FACTORS TO WATCH:
    * China will push forward market-based reforms on interest
rate systems as well as on the currency regime, state radio
quoted outgoing Premier Wen Jiabao as saying on Monday.
 
    * HSBC Holdings  named a former auditor of
the bank as its new head of global regulatory compliance on
Monday in the latest move by Europe's biggest bank to beef up
its compliance functions. 
    * Great Wall Motor Co Ltd , China's top
manufacturer of sport utility vehicles and pick-up trucks, said
its net profit for the year that ended Dec. 31, 2012 jumped 65.7
percent from the year before. 
    * Sany Heavy Equipment International Holdings said
its net profit for the year that ended Dec. 31, 2012 dived 34.4
percent from the year before.* Air China  said it has received formal
approval from the China Securities Regulatory Commission for a
non-public issuance of no more than 192,796,331 new A shares.
This approval will expire six months from Jan. 21, 2013.* Citic Securities , China's largest
listed brokerage, said it plans to raise no more than 40 billion
yuan in aggregate by tapping onshore and offshore corporate debt
instruments, including bonds, subordinated bonds and structure
notes. The term of each on- and off-shore debt instrument shall
be no longer than 10 years with a single term or a hybrid type
with multiple terms. Citic plans to use the proceeds to meet
business operation needs, adjust its debt structure, supplement
working capital and make project investment.* Property developer Sunac China Holdings Ltd said
it would sell 300 million new shares at HK$6.70 each, or a 6.8
percent discount to the previous close, in a top-up share
placement, raising HK$2.01 billion to fund its development and
for general working capital.* Vanke Properties Overseas Ltd, a Hong
Kong-listed subsidiary of China Vanke formerly known
as Winsor Properties, said it expects significant declines in
both its 2012 profit and net assets from the year before.* Mongolian Mining Corporation said it expects to
record a loss for full year 2012, compared to a profit recorded
in 2011. The company added that it is continuing with coal
export shipments from Mongolia to China and recent media reports
about interruption of coal supply are not related to its
operations.* Guangzhou Shipyard International Co Ltd said it
expects unaudited 2012 net profit to decrease by about 80 to 99
percent from a year earlier.* China Shenhua Energy Co Ltd  said coal
production rose 1.6 percent in December 2012 and 7.8 percent for
the whole of 2012, from a year earlier. Total coal sales jumped
36.6 percent in December, while rising 20 percent in 2012, both
also from a year earlier.(Reporting by Clement Tan and Donny Kwok; Editing by Stephen
Coates)
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