HK stocks set to open up 0.15 pct; Taifook jumps

HONG KONG, Nov 11 (Reuters) - Hong Kong shares are set to
open 0.15 percent higher on Thursday helped by firmer overseas
markets, with finance stocks such as Bank of East Asia (0023.HK)
and Taifook Securities (0665.HK) in focus.
Brokers said concern about steep valuations after the recent
rally may prompt profit-taking and limit the uspide of local
stocks.

Taifook Securities rose nearly 12 percent after NWS Holdings
(0659.HK) said it was in talks to sell part or all of its 61.86
percent interest in the company, but no agreement had been
reached.

Bank of East Asia eased 0.9 percent following a sharp gain in
previous session on speculation that a Malaysian conglomerate was
preparing a bid for the Hong Kong bank, local media reported on
Thursday.

Tencent Holdings (0700.HK), China's most valuable Internet
firm, rose 2.6 percent. The firm faces challenges from regulation
and competition to maintain its breakneck pace of growth after
reporting a near doubling in third-quarter profits.
The benchmark Hang Seng Index .HSI was set to open up 33.26
points at 22,660.47.

The China Enterprises Index .HSCE of top locally listed
mainland Chinese stocks was set to rise 0.43 percent to
13,517.94.
(Reporting by Donny Kwok; Editing by Chris Lewis)