"Hong Kong shares seen rangebound ahead of US jobs | AboutHK.Com - more information about HK"
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| Reuters  Hong Kong shares are seen hovering on Friday after finishing at an 11-month closing high in the previous session, as investors turn cautious ahead of key U.S. jobs data for July.
GOME Electrical Appliances (0493.HK) will be watched after the company said on Friday it had not been approached by regulators or judicial authorities in relation to any court order to freeze the assets of its former chairman, Huang Guangyu, and his wife Du Juan. [ID:nHKG260574]
A court in Hong Kong has ordered that assets held by former GOME Electrical Appliances chairman Huang Guangyu be frozen, according to a report in the Wall Street Journal on Thursday.
Huang is currently being investigated for alleged economic crimes. He and his wife were suspended from their executive duties at the electronics retailer last year.
The benchmark Hang Seng Index .HSI jumped 2 percent on to end at 20,899.24 Thursday as early losses were erased by strong buying in China Mobile on speculation the company was on track to list in Shanghai.
Earlier this week the index was unable to hold above 21,000 points as investors turned wary on valuations, which have nearly doubled since March, and took profit.
STOCKS TO WATCH-
* Orient Overseas (0316.HK) posted a $231.85 million loss in first half against a $158.25 million profit a year earlier, due to the difficult trading conditions faced by the container transport and logistics business during the periood. For statement please click here
* Manulife Financial (0945.HK) said its shareholders' net income rose to $1.77 billion for the second quarter ended June 30, from $1.008 billion a year earlier, primarily driven by the significant increase in global equity markets. For statement please click here
* Fulbond Holdings (1041.HK) said late on Thursday that it aimed to sell HK$800 million worth of convertibles notes to at least six third-party investors to prepare for redemption of existing convertibles notes, to strengthen its cash position and to provide funding for operations. For statement please click here
* Melco International (0200.HK) said second-quarter net revenue from its 34.01 percent owned Melco Crown Entertainment (MPEL.O) fell to US$215.8 million from US$384.6 million a year earlier, on low rolling chip hold percentages at the Altira Macau and City of Dreams in the second quarter of 2009. For statement please click here * Tsingtao Brewery (0168.HK) said late on Thursday that its first-half profit rose 68 percent to 639.8 million yuan ($93.66 million) as its effort to strengthen plant management and lower costs had helped boost earnings and sales, and expected beer consumption would continue to recover in the mainland as Beijing promoted domestic consumption. For statement please click here
* Shandong Chenming Paper (1812.HK) said it would buy paper machines, equipment and parts from third parties, including Voith Paper [VOITP.UL], for 2 billion yuan ($292.8 million). The equipment is for its paper-making project in Shandong province with an estimated capacity of 800,000 tonnes of high-quality low-weight coated paper. For statement please click here
* China Resources Land (1109.HK) said it had secured a HK$500 million four-year term loan facility. For statement please click here
* Central China Real Estate (0832.HK) said it would issue HK$765 million worth of bonds, convertible into 246.77 million shares at HK$3.10 each, raising capital to fund land purchases and for working capital. For statement please click here ----------------------MARKET SNAPSHOT @ 2242 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 .SPX 997.08 -0.56% -5.640 USD/JPY JPY= 95.5 0.1% 0.100 10-YR US TSY YLD US10YT=RR 3.756 -- 0.000 SPOT GOLD XAU= 962.4 0.03% 0.250 US CRUDE CLc1 71.8 -0.19% -0.140 DOW JONES .DJI 9256.26 -0.27% -24.71 ASIA ADRS .BKAS 121.71 0.40% 0.48 ------------------------------------------------------------- Market Summary *Wall St drops on caution before July jobs data [nN06353815] *Oil slips from 6-week high as Wall Street drags [nSP359441] *Risk aversion lifts dollar; pound falls after BoE[nN06343797] *Treasuries dip slightly as US payrolls data looms[nN06586802] (Reporting by Parvathy Ullatil; Editing by Chris Lewis)
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