Hong Kong shares may open weaker on doubts for U.S. recovery

HONG KONG Fri Feb 22, 2013 1:11am GMT

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HONG KONG Feb 22 (Reuters) - Hong Kong shares are set to open weaker, tracking a lower close in New York on concerns about the U.S. and euro zone economies which are subduing sentiment ahead of corporate earnings results from major blue chips in the coming weeks.

The Hang Seng Index closed 1.7 percent softer at 22,906.67 on Thursday, weighed down by property and financials due to fresh worries about monetary tightening and expansion of property sector curbs. The China Enterprises Index of the top Chinese listings in Hong Kong fell 2.2 percent.

Elsewhere in Asia, Japan's Nikkei was down 0.57 percent, while South Korea's KOSPI eased 0.20 percent at 0036 GMT.

FACTORS TO WATCH:

* HSBC's asset management arm said cash withdrawals by investors meant it was to close an India-focused hedge fund run by high-profile manager Sanjiv Duggal and which made strong returns last year. A spokesman for HSBC Global Asset Management told Reuters on Thursday it was to close the India Alpha fund, a long-short equity fund launched in 2007.

* Property group Hopewell Holdings Ltd posted a 471 percent rise in first-half net profit at HK$10.4 billion.

* Suning Appliance Co Ltd, China's top home appliance retailer and a larger rival to GOME Electrical Appliances Holding Ltd, plans to invest 20 billion yuan ($3.21 billion) in logistics over the next three years, a senior executive said on Thursday.

* Termbray Industries International (Holdings) Ltd said its 45.5 percent owned Termbray Petro-king Oilfield Services Ltd planned to raise up to HK$784 million in a separate listing in Hong Kong.

* Anton Oilfield Services Group said it expected a significant increase in profits attributable to the equity holders of the company for the year ended December 2012 as compared to a year ago, thanks to robust demand and as operational efficiency improved.

* Property firm Hongkong Chinese Ltd said it expected to record a loss for 12 months ended in December 2012 as compared to a profit in 2011 due to non-recurrence in 2012 of significant fair value gains of investment property and higher finance costs incurred by its associates.

* Cosmetic retailer Bonjour Holdings Ltd said it recorded 29 percent year-on-year growth in retail sales during the first seven days of Chinese New Year between February 10 and 16, while same stores sales grew 38 percent.

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