HK shares likely to rise ahead of China data

HONG KONG, July 10 (Reuters) - Hong Kong shares are seen rising on Friday as crude oil ended its six day slide, and tracking modest gains on Wall Street. Investors are also seen assuming a more confident stance ahead of next week's monthly data deluge from China, which is expected to show the economy is on track to accelerate towards the government's target of 8 percent growth this year, according to economists and analysts polled by Reuters. Oil prices rose slightly on Thursday to settle above $60 per barrel as talk of refinery shutdowns spurred stirred gasoline supply concerns. The benchmark Hang Seng Index rose 0.39 percent to 17,790.59 on Thursday rebounding from a two-week low STOCKS TO WATCH- * Renhe Commercial said a Chinese government agency had approved its plans to develop and operate underground commercial centers in Wuhu in Anhui Province and Qingdao, Shandong Province. The approval boosts Renhe's gross floor area as reserves for development in or beyond 2010 to more than 1.2 million square metres. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090709/LTN20090709472.pdf * Zhengzhou Gas Co Ltd said late on Thursday its controlling shareholder Zhengzhou Gas Group had teamed up China Resources Gas to set up a 20 percent joint venture. Futher announcement will be made as they reach agreement. Trading in the shares will resume on Friday. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090709/LTN20090709467.pdf * In response to a decline in its stock price on a report it was planning a $3 billion rights issue, China Merchants Bank on Thursday said it was looking at ways to replenish capital but had not confirmed a specific proposal. * Sports shoe maker Yue Yuen Industrial said its net consolidated operating revenue for June totalled US$411.34 million, and net consolidated accumulative operating revenue for the first half of 2009 was US$2.46 billion. It gave no comparison figures. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090709/LTN20090709240.pdf * Power output at Huaneng Power, China's biggest power provider, fell 5.84 percent in the first half of 2009 from a year earlier, on the back of weakening demand amid the global economic downturn, the company said on Thursday. * Chigo Holdings said the public offering portion of its Hong Kong IPO was 347 times subscribed. It priced its IPO at HK$2.27 per share, raising HK$120.7 million. Trading in the shares will begin on Monday. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090710/LTN20090710003.HTM * Xingfa Aluminium plans to more than triple its annual production capacity to 400,000 tonnes by 2014 to capture growing demand from the construction and industrial sectors, the South China Morning Post cited chief financial officer Bobby Wong as saying. ----------------------MARKET SNAPSHOT @ 2240 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 882.68 0.35% 3.120 USD/JPY 93.04 0.08% 0.070 10-YR US TSY YLD 3.4125 -- 0.000 SPOT GOLD 911.95 0.05% 0.500 US CRUDE 60.74 0.55% 0.330 DOW JONES 8183.17 0.06% 4.76 ------------------------------------------------------------- > Wall Street ekes out gain on banks, materials > Yen, dollar slide as risk appetite recovers > Profit-taking, rising stocks thump bonds > Gold rises on dollar drop; investment demand scant > Oil rises, snaps six-day slide on gasoline buying (Reporting by Parvathy Ullatil, Editing by Chris Lewis) (([e-mail]; [phone]; Reuters Messaging: [e-mail])) ASIA-PACIFIC STOCK MARKETS: Pan-Asia...... Japan........ S.Korea.... S.E.

Asia............ Hong Kong... Taiwan..... Australia/NZ......... India....... China...... OTHER MARKETS: Wall Street........... Gold......... Currency..

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