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Hong Kong shares may start lower; eyes on corporate earnings

Monday, 28 Oct 2013 | 9:17 PM ET

HONG KONG, Oct 29 (Reuters) - Hong Kong shares may start lower on Tuesday as investors stay on the sidelines and await key economic data and corporate earnings reports.

China Petroleum & Chemical Corp, PetroChina Co Ltd , Air China Ltd, China Eastern Airlines , and China Merchants Bank are among companies due to report quarterly earnings later in the day.

The Hang Seng Index ended up 0.5 percent on Monday at 22,806.6 points, while the China Enterprises Index of the top Chinese listings in Hong Kong rose 0.8 percent.

Elsewhere in Asia, Japan's Nikkei was down 0.9 percent and South Korea's KOSPI was 0.4 percent lower as of 0042 GMT.

FACTORS TO WATCH:

* China's Suning Commerce Group and Hony Capital, an affiliate of Lenovo Group, will invest $420 million in PPTV, a Chinese online TV services provider, Suning said on Monday.

* Singapore conglomerate Straits Trading Company Ltd is buying just over a fifth of real estate fund manager ARA Asset Management Ltd from Cheung Kong Investment Company, a unit of Cheung Kong Holdings Ltd , in a S$294.4 million ($238 million) deal that it said would boost its property business.

* China State Construction Engineering Corp Ltd said its January-September net profit rose 26 percent year-on-year to 13.4 billion yuan ($2.2 billion).

* China Everbright Bank Co Ltd said its third-quarter net profit rose 10 percent year-on-year to 6.7 billion yuan ($1.1 billion)

* Anhui Conch Cement Co Ltd said its January-September net profit jumped 37 percent year-on-year to 5.38 billion yuan ($884.3 million).

* Lifestyle International Holdings Ltd said Chow Tai Fook Enterprises Ltd would sell all of its 115 million shares in the company at HK$16.39 per share to third-party investors.