November 23, 2012 / 1:06 AM / 5 years ago

Hong Kong shares set for best week in 2-1/2 months

HONG KONG, Nov 23 (Reuters) - Hong Kong shares were set to
start higher on Friday in turnover likely crimped due to public
holidays in the United States and Japan, adding to gains on the
week that have already amounted to their best since
    On Thursday, the Hang Seng Index rose 1 percent to
close at its highest since Nov. 7, while the China Enterprises
Index of the top Chinese listings in Hong Kong firmed
0.9 percent. 
    The Hang Seng Index is now up 2.8 percent on the week, set
for its best week since it jumped 4.2 percent Sept. 10-14. The
China Enterprises Index is up 2.4 percent, with both benchmark
indexes set for their first weekly gain in four.
    Elsewhere in Asia, Japan's financial markets are closed for
a public holiday, while South Korea's KOSPI was flat at
0056 GMT.
    * Europe's antitrust regulator has outlined more modest than
expected conditions for trader Glencore International Plc
 to press ahead with its $33 billion takeover of Xstrata
Plc. The European Commission cleared the world's largest
diversified commodities trader to complete the deal but said on
Thursday it must scrap an exclusive European zinc sales
agreement with producer Nyrstar. 
    * China's CITIC Pacific Ltd said on Thursday that
an Australian court has granted it an injunction against
Australian tycoon Clive Palmer in a case over disputed royalties
at the $8 billion Sino Iron project in Western Australia.
    * European Union anti-trust regulators are set to brief
national authorities next week on Hutchison's planned
takeover of Orange Austria, in a move likely to signal EU
approval for the deal. 
    * Major commodities player Barclays quit open
outcry floor trading at the London Metal Exchange, which is in
the last stages of a $2.2 billion takeover by the Hong Kong
Exchanges and Clearing Ltd, downgrading its membership
at the world's biggest marketplace for industrial metals to cut
    * Paul Y. Engineering Group Ltd said its joint
venture with Yau Lee Holdings Ltd has been awarded a
HK$10 billion contract for the construction of Studio City at
Cotai in Macau - an entertainment, retail and gaming resort
indirectly owned by Melco Crown Entertainment Ltd. The
project is due to be completed in 2015.(Reporting by Clement Tan and Donny Kwok; Editing by Chris
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