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Hong Kong shares may start November stronger, China PMIs in focus

Thursday, 31 Oct 2013 | 9:14 PM ET

HONG KONG, Nov 1 (Reuters) - Hong Kong shares could greet November on a solid footing on Friday, underpinned by a positive reading on China's vast manufacturing industry.

China's October official manufacturing purchasing managers' index (PMI) came in 51.4, just above the expected 51.2. This is its fastest reading since April 2012. The final reading for a similar Markit/HSBC survey is due at 0145 GMT.

On Thursday, the Hang Seng Index fell 0.4 percent to 23,206.4. The China Enterprises Index of the top Chinese listings in Hong Kong slipped 0.1 percent. They are up 2.2 and 4.4 percent, respectively, and are set for their biggest weekly gain in nine weeks.

Elsewhere in Asia, Japan's Nikkei was up 0.1 percent, while South Korea's KOSPI was up 0.3 percent at 0055 GMT.

FACTORS TO WATCH:

* Hong Kong retail sales growth slowed to 5.1 percent in September vs 8.1 percent in August from a year earlier, while sales volume growth in September hit the weakest in at least seven months.

* MGM Resorts International, parent of MGM China , posted a narrower third-quarter loss on Thursday and was optimistic about a planned new casino in Massachusetts, although lower-than-expected margins at its Chinese and Las Vegas operations disappointed some analysts.

* China's Dongfeng Motor Group Co Ltd, which is in capital-injection talks with struggling French carmaker PSA Peugeot Citroen PEUP.PA, posted a 39 percent rise in third-quarter profit on the back of China's auto market recovery.

* ANTA Sports Products Ltd said same-store sales growth of its Anta branded products for the third quarter of 2013 remained flat compared to the same period of 2012.

* China National Building Material Co Ltd said total operating revenue for January-September amounted to 82.17 billion yuan versus 59.83 billion yuan the same period last year, and net profit attributable was at 3.30 billion yuan versus 3.59 billion yuan in the year ago period.

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