HK stocks seen rangebound; HSBC, SMIC in focus

HONG KONG, Nov 11 (Reuters) - Hong Kong stocks are expected
to trade in a narrow range on Wednesday, helped by stronger
overseas markets, but concerns about steep valuations following a
three-day rally may keep trade subdued.

Strong Chinese economic activity indicators, due at 0200 GMT,
could provide investors a catalyst to buy, brokers said.

HSBC (HSBA.L) (0005.HK) will be in focus after the bank
declared on Tuesday the first improvement for three years in
losses on U.S. consumer credit. [ID:nLA635993].

Separately, the lender's chief executive said on Wednesday
that the bank had not yet set a timeframe for the planned listing
of its shares on Shanghai's stock market. [ID:nSGN002270].

SMIC (0981.HK), China's largest contract chipmaker, will also
be eyed as it resumes trade after being suspended since Nov. 4.
The firm said on Tuesday that it will pay $200 million and give
the right to purchase up to 10 percent of the company to TSMC
(2330.TW) to settle lawsuits between the two. [ID:nTP302150].

The benchmark Hang Seng Index .HSI rose 0.27 percent, or
60.61 points, to 22,268.16 on Tuesday, its highest close in two
weeks.

The China Enterprise Index .HSCE of top locally listed
mainland Chinese stocks rose 0.37 percent to 13,367.19.

STOCKS TO WATCH:

* Galaxy Entertainment (0027.HK) said it recorded its fourth
consecutive quarter of EBITDA growth at HK$278 million ($35.9
million) for the three months ended in September, up 181 percent
from the same period a year ago, with revenue at HK$2.85 billion,
up 16 percent from the prior year. It said it remained cautiously
optmistic on the outlook for the fourth quarter and that its
Galaxy Macau resort was set to open in first quarter of 2011 at a
budget of HK$14.1 billion. For statement please click
here

* China Energine International (1185.HK) said it would sell
HK$276 million shares to its controlling shareholder in a top up
placing, raising capital for working capital and for developing
wind energy projects in Inner Mongolia. For statement please
click
here

* Chinese department store operator Maoye International
(0848.HK) said it would buy a commercial property in Shenzhen,
where it currently operates a department store, from its
controlling shareholder for HK$1.93 billion in a bid to control
operational costs including rental increases. For statement
please click
here

----------------------MARKET SNAPSHOT @ 2254 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P
500 .SPX 1093.01 -0.01% -0.070 USD/JPY

JPY= 89.78 -0.03% -0.030 10-YR US
TSY YLD US10YT=RR 3.4781 -- -0.006 SPOT GOLD

XAU= 1105.5 0.02% 0.200 US CRUDE

CLc1 79.05 0.00% 0.000 DOW JONES

.DJI 10246.97 0.20% 20.03
-------------------------------------------------------------

MARKET SUMMARY

* Wall St rally stalls but Dow ekes out gain [nN10333790]

* Oil falls on Ida recovery, stronger dollar [nSP476555]

* Dollar moves off 15-month low, still vulnerable [nN10332445]

* Treasuries prices steady after 10-year note sale[nN10329161]

(Reporting by Sui-Lee Wee, Editing by Jonathan Hopfner)