Hong Kong shares may start higher, underpinned by U.S. hopes
HONG KONG, Oct 11 (Reuters) - Hong Kong shares may end the week higher on Friday, lifted by Wall Street gains on signs of a deal to avert a possible U.S. default.
Republicans, who have not passed budget funding, on Thursday offered a plan that would extend the U.S. government's borrowing authority for several weeks, staving off a default that could come as soon as Oct. 17.
While no deal emerged from a meeting at the White House, the two sides said they would continue to talk.
Direction may come from China data, a batch of which could start to appear this week: September figures for money supply and loan growth are due by Oct. 15, trade data on Oct. 12, inflation on Oct. 14, with third quarter GDP due Oct. 18.
On Thursday, the Hang Seng Index finished down 0.4 percent at 22,951.3 points in a second straight daily loss. The China Enterprises Index of the top Chinese listings in Hong Kong also shed 0.4 percent.
On the week, they are down 0.8 and 0.5 percent, respectively.
Elsewhere in Asia, Japan's Nikkei and South Korea's KOSPI were each up 1.2 percent at 0048 GMT.
FACTORS TO WATCH:
* China Overseas Land & Investment Ltd, the largest property developer by market value, and smaller rival Shanghai Shimao Co Ltd posted strong nine-month contract sales on Thursday, despite official efforts to curb the market.
* Agile Property Holdings Ltd, Guangzhou R&F Properties Co Ltd, KWG Property Holding Ltd, and Shimao Property Holdings Ltd enter a joint agreement for a HK$2.7 billion transferable loan facility.
* A closely-watched restructuring of Suntech Power Holdings Co Ltd's Chinese debt is likely to move forward after Shunfeng Photovoltaic International Ltd was named the preferred bidder for Suntech's main unit.
* Tencent Holdings Ltd announced plans to streamline business in India, Thailand to focus on mobile networking, online gaming.
* TCL Multimedia Technology Holdings Ltd expects to post a loss in Q3 versus year-ago profit led by fall in LCD TV demand after removal of energy-saving home appliances subsidy policy in June.
* CSPC Pharmaceutical Group Ltd said two shareholders to dispose a combined 500 million shares at HK$4.05 per share.
* Beijing Enterprises Holdings Ltd said deal amount to purchase China Gas shares to be reduced to HK$7.4 billion from HK$8.2 billion previously.
* China's Baoshan Iron & Steel, the country's biggest-listed steelmaker, will keep booking prices for its main carbon steel products unchanged for November, it said in a website statement on Thursday.
* Sun Hung Kai Properties Ltd said ICAC has removed all conditions attached to non-exec director Walter Kwok's bail.
* Geely Automobile Holdings Ltd said total sales volume for September was 43,027 units, up approximately 22 percent from August.