HONG KONG, May 31- Hong Kong shares are expected to start higher on Friday, tracking Wall Street gains after soft U.S. economic data raised optimism that the Federal Reserve would press on with its stimulus programme, but the market is set for a monthly loss. Elsewhere in Asia, Japan's Nikkei was up 2.4 percent, while South Korea's KOSPI was rose 0.4 percent by 0056 GMT.
Asian shares slumped on Tuesday with discouraging U.S. factory orders and political ructions in Spain and Italy keeping investors cautious.
HONG KONG, Jan 25- Hong Kong shares look set to start firmer on Friday, tracking positive sentiment from encouraging U.S. data released on Thursday and after solid China factory data. Its investors Singapore sovereign fund GIC, U.S. private equity fund TPG Capital and Viva China Holdings Ltd had given their "irrevocable undertakings" to the company.
Asian shares ended mixed on Wednesday after rounds of profit taking from a sharp rally at the start of the new year subsided, while investors waited warily for corporate earnings season to kick off in full force.
Asian shares closed marginally higher on Thursday amid caution about the chances of the U.S. going over the "fiscal cliff" but Japan managed to hit a 21-month high as a strong currency buoyed investor risk appetite.
Asian stocks hit multi-month highs on Wednesday as expectations of more aggressive monetary stimulus from Japan and signs of progress in reaching a U.S. fiscal deal lifted riskier assets.
CNBC's Phil LeBeau reports from the Paris Air Show and discusses Airbus, which is expected to announce new orders this week, and Boeing's new aircraft.
Monday, 17 Jun 2013 | 6:40 PM ETYou say the name of a stock, and Mad Money's Jim Cramer tells you whether to buy or sell.
Monday, 17 Jun 2013 | 8:20 PM ETHans Timmer, Director of the Development Prospects Group at the World Bank says his main concern with China is the country's vast shadow banking system.