HK stocks end up, trim losses for month; HSBC leads
Hong Kong stocks finished higher on Monday as large cap financials advanced ahead of annual results from HSBC, raising the risk of a pull-back if Europe's largest lender disappoints with a tepid earnings forecast.
The Hang Seng Index .HSI closed up 1.42 percent at 23,338.02, trimming its loss for February to 0.5 percent.

Manufacturing and building-related stocks such as cement pushed the China Enterprises Index .HSCE of top locally listed Chinese companies up 1.91 percent.
The Shanghai Composite .SSEC recovered from earlier losses to close up 0.92 percent. The index rose 4.1 percent in February making it Asia's top performing market.

* HSBC Holdings Plc (0005.HK) ended the day up 1.5 percent as investors geared up for results and a possible dividend boost from the industry bellwether. High expectations among investors have lifted its Hong Kong-listed shares 13.4 percent this year, easily outpacing the Hang Seng Index's 1.3 percent advance.
* Coal-related stocks were on fire on Monday after the world's largest producer Coal India Ltd (COAL.BO) raised prices earlier in the day. Sany Heavy International (0631.HK), which also received a boost from a ratings upgrade from brokerage Nomura International, rose 9.4 percent.

Corporate earnings will take centre stage this week in Hong Kong, with HSBC rival Standard Chartered Plc (2888.HK) and Hong Kong Exchanges & Clearing Ltd (2888.HK) both scheduled to report on Wednesday.
Monthly gaming revenue from Macau and results from Sands China Ltd (1928.HK) on Tuesday will keep casino stocks in focus on Tuesday.

Posted by imran Monday, February 28, 2011


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