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(AFX UK Focus)
2009-10-29 02:11
HK stocks set to open down 2.2 pct; PetroChina drops |
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HONG KONG, Oct 29 (Reuters) - Hong Kong stocks are set to open 2.17 percent lower on Thursday, tracking losses on Wall Street overnight, while oil producer PetroChina dropped after reporting a decline in net profit. The benchmark Hang Seng Index was indicated to open down 471.49 points at 21,290.09. The China Enterprises Index of top locally listed mainland Chinese stocks was set to fall 2.59 percent to 12,499.15. PetroChina slid 4.42 percent. It reported a 23.5 percent drop in quarterly profit on Wednesday, hit by a sharp decline in crude oil prices. Nine Dragons Paper fell 12.15 percent. The packaging and paperboard maker said it would sell $2.87 billion ($370 million) worth of new shares to its controlling shareholder.
Geely Automobile Holdings rose 0.7 percent. Ford
named Geely's major shareholder as preferred bidder for its
loss-making Swedish unit Volvo.
(Reporting by Jun Ebias; Editing by Chris Lewis)
((jun.ebias@thomsonreuters.com; +852 2843 6537; Reuters
Messaging: jun.ebias.reuters.com@reuters.net))
(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)
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