Hong Kong shares may extend recent gains; retail stocks in focus
HONG KONG, Sept 3 (Reuters) - Hong Kong shares could extend its recent gains on Tuesday, with retail stocks likely to benefit after July retail sales rose 9.5 percent in value from a year ago.
Hong Kong's retail sales totalled a provisional HK$40 billion ($5.16 billion) in July, up 8.9 percent by volume, figures from the Census and Statistics Department showed on Monday.
On Monday, the Hang Seng Index closed up 2 percent at 22,175.3 points in its best day since Aug. 12. The China Enterprises Index of the top Chinese listings in Hong Kong rose 2.3 percent to its best close in one week.
Elsewhere in Asia, Japan's Nikkei was up 2.3 percent, while South Korea's KOSPI was up 0.4 percent at 0040 GMT.
FACTORS TO WATCH:
* China Molybdenum said late on Monday that Japan's Sumitomo Metal Mining and Sumitomo Corp have waived their right to match the Chinese miner's $820 million bid for Rio Tinto's stake in the Northparkes copper mine.
* China oil construction company Wison Engineering Services Co Ltd, which counts PetroChina among its major customers said its controlling shareholder Hua Bangsong "is assisting relevant authorities" in China who are conducting an investigation after sharp falls in Wison's share price.
* Sinopec Corp, Asia's largest refiner, started operating a major commercial crude oil storage base in northern China on Sunday, the parent company said on Monday, nine months behind an earlier schedule.
* China National Materials Co Ltd said its Shanghai-listed unit Sinoma International Engineering Co Ltd would buy a 59.09 percent stake of Hazemag & EPR GmbH from Schmidt, Kranz & Co. Gesellschaft mit beschränkter Haftung for 104 million euros as the unit aims to expand its mining equipment business.
* Guangzhou R&F Properties Co Ltd said its contracted sales for the month of August amounted to 3.56 billion yuan, a month-on-month increase of 20 percent.
* China Mengniu Dairy Co Ltd said Wu Wennan has been appointed as Chief Financial Officer with effect from September 1, replacing Wu Jingshui who will remain an executive director of the company.