January 30, 2013 / 1:16 AM / 5 years ago

Hong Kong shares may start slightly higher, Lenovo in focus

HONG KONG, Jan 30 (Reuters) - Hong Kong shares may start slightly higher on Wednesday, with turnover seen thinned as investors wait for the end of a U.S. Federal Reserve policy meeting, which is expected maintain current stimulative policies.

Investors will also be watching shares of China’s Lenovo Group, which is expected to post corporate earnings for the quarter ending Dec. 31, 2012 later in the day.

On Tuesday, the Hang Seng Index inched down 0.1 percent to 23,655.2 on Tuesday, slipping from its highest closing levels since May 31, 2011. The China Enterprises Index of the top Chinese listings in Hong Kong fell 0.2 percent.

Elsewhere in Asia, Japan’s Nikkei was up 0.8 percent, while South Korea’s KOSPI was up 0.1 percent at 0100 GMT.


* Aluminum Corp of China Ltd (Chalco) , the country’s top aluminium maker, said on Tuesday it will post a big loss in 2012 due to low aluminium prices and rising costs.

* China Gold International Resources Corp Ltd said its gold production from the csh mine increased by 4.4 percent 139,443 ounces in 2012. It expected 2013 gold output to increase to about 145,000 ounces.

* KWG Property Holding Ltd said it would issue $300 million 8.625 percent senior notes due 2020 to refinance existing debt and to finance its projects.

* Melco Crown Entertainment Ltd said it would issue $1 billion 5 percent senior notes due 2021, raising proceeds to repurchase in full its unit MCE Finance’s $600 million 10.25 percent senior notes due 2018 and to repay part of 2.3 billion yuan 3.75 percent bonds due 2013 issued by Melco Crown Entertainment in May 2011.

* Winteam Pharmaceutical Group Ltd said Sinopharm Group Hongkong Co Ltd completed its purchase of a 19.9 percent stake of the company and would make a voluntary conditional cash offer to buy all outstanding shares it did not already own.

* Fosun Internationad Ltd said its unit Nanjing Iron & Steel Co Ltd expects to see a net loss of 580 million yuan for 2012 due to low steel prices and high raw materials costs.

* L’occitane International S.A. said net sales were 801.3 million euro for the nine months that ended in December, an increase of 17.6 percent compared with the same period a year ago. Local currency growth was 12.2 percent and overall same store sales growth increased to 3.2 percent.

* ENN Energy Holdings Ltd said it plans to issue $500 million zero coupon convertible bonds due 2018 to refinance its existing debt and for general corporate purposes.(Reporting by Clement Tan and Donny Kwok; Editing by Richard Pullin)

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