"HK shares seen gaining for fourth day in a row | AboutHK.Com - more information about HK"
|  Reuters
Hong Kong shares are set to rise for a fourth straight session on Friday as the mood on Wall Street remained optimistic following strong quarterly earnings from JPMorgan.
Announcing their results after the U.S. markets closed on Thursday, both Google ( GOOG - news - people ) and IBM ( IBM - news - people ) trumped earnings expectations, drumming up hope for a recovery in the global economy. Crude oil edged below $62 per barrel on Friday, after finishing up the previous day in choppy trading when a rebound on in equities helped boost prices.
The benchmark Hang Seng Index rose 0.6 percent in a third session of gains on Thursday, with investors cheered by signs of a turnaround in key economies.
STOCKS TO WATCH-
* China WindPower Group on Friday said it would sell 700 million new shares to its major shareholder Gain Alpha at HK$0.85 each in a top up placement, raising HK$579 million to fund acquisitions and pre-development of additional onshore and offshore wind farm reaources, expediting wind farm investment and increase installed capacity. Trading in the shares will resume on Friday. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090717/LTN2 * China State Construction International late on Thursday said it planned to raise at least HK$1.36 billion by issuing 489.64 million rights shares in the proportion of one rights share for every five existing shares held at HK$2.79 each, a 10 percent discount to the Thursday closing price. The proceeds will be used for further investment in infrastructure projects and for general working capital. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090716/LTN20090716654.pdf
* Hisense Kelon Electrical Holdings late on Thursday said it would buy home electronics manufacturing and sales assets from Qingdao Hisense for 1.24 billion yuan. The deal will be settled by an issue of up to 362.05 million A shares at 3.42 yuan each. Qingao Hisense, whose stake in the company will rise to 45.21 percent from 25.22 percent, will apply for a waiver from making a mandatory general offer. Trading in the company's H shares will resume on Friday. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090716/LTN20090716600.pdf
* Sichuan Expressway on Thursday said it had priced its issue of 500 million A shares at 3.60 yuan per share. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090716/LTN20090716485.pdf
* Sinofert Holdings on Thursday warned of a loss for first half of 2009 due to provisions for the writedown of its potash fertiliser inventory following a significant reduction in the pricing of potash fertiliser products in China due to the global financial crisis. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090716/LTN20090716445.pdf ----------------------MARKET SNAPSHOT @ 2252 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 <.SPX> 940.74 0.86% 8.060 USD/JPY 93.76 -0% 0.000 10-YR US TSY YLD 3.5728 -- 0.000 SPOT GOLD 936.75 0.04% 0.400 US CRUDE 62.21 0.31% 0.190 DOW JONES <.DJI> 8711.82 1.11% 95.61 ------------------------------------------------------------- > Wall St climbs on tech shares, earnings optimism [.N] > Dollar hits six-week low as earnings offset data [USD/] > Safety bid, bargain hunting boosts bonds [US/] > Gold slips as Philly Fed data lifts dollar [GOL/] > Oil prices rise with Wall Street [O/R] (Reporting by Parvathy Ullatil; Editing by Chris Lewis) |
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