Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

HK shares open 0.8 pct higher; Yanzhou Coal soars

Published 08/13/2009, 09:59 PM
Updated 08/13/2009, 10:00 PM
0494
-

HONG KONG, Aug 14 (Reuters) - Hong Kong shares will open 0.8 percent higher on Friday, helped by strong earnings momentum and a positive profit outlook for the second half from companies including consumer goods exporter Li & Fung.

China's Yanzhou Coal Mining Co will open 6.8 percent higher at HK$12.94 after agreeing to buy Australian coal miner Felix Resources Ltd for $2.9 billion.

Trading in Yanzhou Coal shares resumed on Friday after being suspended on Monday.

The benchmark Hang Seng Index was indicated to open 162.66 points higher at 21,023.96 with Li & Fung set to be the top percentage gainer with a 5.7 percent jump.

The China Enterprises Index, which represents top locally listed mainland Chinese stocks, was up 0.4 percent at 11,948.23. (Reporting by Parvathy Ullatil; Editing by Chris Lewis)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.