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Hong Kong shares may start higher, China banks in focus
June 18, 2013 / 1:04 AM / 5 years ago

Hong Kong shares may start higher, China banks in focus

HONG KONG, June 18 (Reuters) - Hong Kong shares could start higher on Tuesday, with the Chinese banking sector in focus after China’s state investment agency again increased its A-share stakes in all of the country’s “Big Four” banks.

On Monday, the Hang Seng Index rose 1.2 percent to 21,225.9. The China Enterprises Index of the top Chinese listings in Hong Kong rose 0.8 percent in its first gain in 13 sessions.

Elsewhere in Asia, Japan’s Nikkei was up 0.3 percent, while South Korea’s KOSPI was up 0.1 percent at 0059 GMT.


* Stock filings showed Central Huijin Investment Co, China’s main holding company for state-owned financial companies, bought shares in Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Agricultural Bank of China.

* China Resources Land Ltd said on Monday it has appointed a new chairman to replace Wang Yin, who has stepped down to concentrate on his role as vice-chairman of China Resources (Holdings) Co Ltd.

* French cosmetics and beauty products maker L‘Occitane International S.A. posted a 1.3 percent rise in full year net profit to 122.7 million euros.

* GCL-Poly Energy Holdings Ltd said a unit of its substantial shareholder China Investment Corporation would sell 1.2 billion shares, representing 7.75 percent of the company share capital, at HK$1.87 each, reducing its stake in the company to 12.3 percent.

* Shenzhou International Group Holdings Ltd said it would sell 69 million new shares to its controlling shareholder Keep Glory Ltd at HK$22.40 each, or a 9.1 percent discount to previous close, raising a net HK$1.5 billion to fund the construction of a knitwear and textile production facility in Vietnam.

* China Shenhua Energy Co Ltd said its coal sales for May rose 6.3 percent year-on-year to 44.1 million tonnes while commercial coal production decreased 0.4 percent to 26.7 million tonnes.(Reporting by Clement Tan and Donny Kwok; Editing by Eric Meijer)

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