HONG KONG, Oct 10 (Reuters) - Hong Kong shares are set todip on Wednesday if weakness on Wall Street sparks profit-takingafter the previous session's China-led rally.
The Hang Seng index rose 0.5 percent to close near afive-month high. The China Enterprises index of toplocally listed mainland firms rose 1.3 percent supported bylarge-cap banking and energy shares.
But worries about U.S. corporate earnings, particularly inthe tech sector after brokerage downgrades of Intel Corp, and a warning from the International Monetary Fundabout global growth hit risky assets overnight and weighed onAsian markets in early trading.
Japan's Nikkei was down 1.8 percent while SouthKorea's Kospi was off 1.2 percent as of 0030 GMT.
STOCKS TO WATCH:
* Canada indicated strongly on Tuesday it would excludeChinese telecom equipment giant Huawei Technologies Co Ltd
from helping to build a secure Canadian governmentcommunications network because of possible securityrisks. Meanwhile, the European Commission has delayed a tradecase against Huawei and ZTE Corp , easingtensions between the European Union and China.
* ZTE Corp , China's second largesttelecom equipment maker, said on Tuesday that Cisco Systems has terminated its agreement with the company,confirming an earlier Reuters report.
* Russian aluminium group RUSAL has won a legalclaim against Norilsk Nickel , the world's top nickeland palladium producer, which it partly owns, signalling thatlong-running tensions with its other owner may escalate.
* China's Sinopec has started work to buildSoutheast Asia's largest oil storage terminal at Indonesia'sBatam Free Trade Zone, industry sources said on Tuesday.
* Global supply chain manager Li & Fung Ltd saidlate on Tuesday it has appointed Ed Lam as chief financialofficer as it expands senior management team to facilitate itsorganic growth and acquisition strategy.
(Reporting by Vikram Subhedar and Donny Kwok; Editing by EricMeijer)
Keywords: MARKETS HONGKONG CHINA STOCKS/ PREOPEN