Hong Kong shares seen higher, China markets to reopen
HONG KONG, Oct 8 (Reuters) - Hong Kong shares are set to extend a five-session gaining streak on Monday helped by a higher open in Chinese markets that resume trading after a week-long holiday.
The Hang Seng index rose on Friday as a recovery in oil-related stocks as well as gains for autos and financials pushed the benchmark up 0.8 percent on the week. The Hang Seng has now gained just under 14 percent on the year.
China's onshore markets reopen on Monday following a long holiday and are likely to tick higher as domestic investors get their chance to react to news that the country's once-in-a-decade leadership transition gets underway early next month.
Investors are hopeful of more decisive measures to boost a slowing economy and lacklustre markets once the new leadership is in place.
Elsewhere in Asia, South Korea's Kospi was down 0.5 percent as of 0030 GMT. Japan markets are closed on Monday for a public holiday.
STOCKS TO WATCH:
* Retail stocks such as Prada SpA will be in focus after China's retail sales growth slowed to 15 percent during the Golden Week holiday, local media said on Sunday, providing a snapshot of increasingly important sources of demand in the world's second-largest economy.
* Lingering doubts over the proposed merger between the local units of Hutchison and Orange in Austria will delay the auction in the Alpine country until the second half of 2013, the head of the broadcasting and telecoms watchdog said.
* Next Media Ltd , controlled by Hong Kong media mogul Jimmy Lai, is in preliminary talks to sell its print business in Taiwan, the company said on Friday, after its share price jumped earlier in the day on media reports of its sale plan.
* Genting Hong Kong Ltd has approached shareholders of Echo Entertainment Group Ltd seeking to boost its stake in the owner of Sydney's only casino, a fund manager who holds Echo shares said.
* Great Eagle Holdings Ltd said it would buy a hotel property in the heart of Manhattan at 400 Fifth Avenue in midtown New York for $229 million cash, a bid to further develop its Langham hotel brand to cover New York, Los Angeles and Chicago. For statement clicks
(Reporting by Vikram Subhedar and Donny Kwok)
Keywords: MARKETS HONGKONG CHINA STOCKS/ PREOPEN