Thursday, March 25, 2010

HK shares to open 0.5 pct lower; Chinese banks fall


 HONG KONG, March 26 (Reuters) - Hong Kong shares were set to
open 0.5 percent lower on Friday, with Chinese lenders including
Industrial & Commercial Bank of China (ICBC) down on concern
about their funding needs.
 ICBC (1398.HK) lost 1.1 percent. China's top lender on
Thursday said it planned to raise $3.7 billion in new capital to
strengthen its balance sheet. [ID:nTOE62N04S]
 Smaller rival China Construction Bank (0939.HK) fell 1.6
percent ahead of its earnings announcement later in the day.
 PetroChina (0857.HK) was down 2.7 percent after it announced
a lower-than-forecast 12 percent rise in quarterly profit as a
result of higher costs, prompting some brokers to put a "sell"
recommendation on the stock. [ID:nSGE62O0EC]
 The benchmark Hang Seng Index .HSI was set to open at
20,679. The China Enterprises Index .HSCE of top locally listed
mainland Chinese was down 0.9 percent.
 Debutant Zhongsheng Holdings (0881.HK), an auto dealer in
China, was unchanged at HK$10 versus its IPO price.

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