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  • Oct 23, 2014
  • Updated: 2:17pm
Stock Talk
PUBLISHED : Wednesday, 17 October, 2012, 8:23am
UPDATED : Wednesday, 17 October, 2012, 8:43am

Market Open:Hong Kong stocks seen flat ahead of key data

Hong Kong stocks are likely to tread water on Wednesday as investors await key third quarter gross domestic product data for China, due out early on Thursday.


Hong Kong stocks are likely to tread water on Wednesday as investors await key third quarter gross domestic product data for China, due out early on Thursday.

 

Economists have predicted a seventh successive quarterly slowdown for the world's second biggest economy, with exports nearly stalling. The renminbi is hovering at its strongest level since Beijing revalued the currency in 2005. The currency closed at 6.2640 against the US dollar on Tuesday, up 67 basis points from Monday.

 

Overnight, the Standard & Poor's 500-stock index closed up 14.79 points, or 1.03 per cent, to close at 1,454.92. The Nasdaq Composite added 36.99 points, or 1.21 per cent, to 3,101.17. In London, the FTSE-100 Index gained 64.93 points, or 1.12 per cent, to end at 5,870.54.

 

 

Hot Stocks of the Day:

 

Air China (0753.HK)

The nation's biggest carrier said September passenger fell 8.5 per cent month-on-month to 4.28 million. Inland passenger traffic dropped 7.4 per cent from a month earlier while international routes saw the number of passengers slump 14.6 per cent month-on-month. 

MASCOTTE Holdings (0136.HK)

The firm said later Monday that it expects to record a loss for the six months ended September 30, 2012.

SINGAMAS CONTAINER HOLDINGS (0716.HK)
The Singapore-based firm and its subsidiary, STC, have agreed to sell a 59 per cent stake in its container unit SLWC to Fuwa Machinery for 14.7 million yuan.

Tinyi (0322.HK)
A shareholder of the instant noodle maker seeking to sell up to HK$918 million in stock, has canceled the offer after investors demanded bigger discounts to buy into the largest mainland instant noodle maker, according to Reuters, citing unnamed sources.

Huadian Power International (1071.HK)
The Chinese power producer said power generation rose 4.34 per cent from a year earlier and on-grid electricity sold was up 4.39 per cent year-on-year during the first three quarters ended September 30.

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