HONG KONG, Sept 3 (Reuters) - Hong Kong shares could start
the week lower on Monday after data over the weekend showed
China's official factory purchasing managers' index (PMI) fell
more than expected, suggesting the economic slowdown could
extend into a seventh quarter.
China's official PMI, one of the earliest indicators of the
state of the world's second-largest economy, fell more than
expected to 49.2 in August from 50.1 in July.
The Hang Seng Index shed 0.4 percent on Friday to
close at 19,482.6, holding above the 38.2 percent Fibonacci
retracement of its rise from June lows to August highs at about
19,443. The benchmark lost 1.6 percent in August, its first
monthly loss in three months.
Elsewhere in Asia, Japan's Nikkei was down 0.5
percent, while South Korea's KOSPI was down 0.9 percent
at 0038 GMT.
FACTORS TO WATCH:
* Some phonemakers are quietly exploring alternatives to the
Android operating system implicated in the Samsung-Apple ruling,
industry watchers say, despite their public pronouncements they
are sticking with the technology. The impact could hit smaller
vendors that use Android like HTC, ZTE,
and Sony. Android is used in more than two thirds of
smart phones.
* China Ming Yang Wind Power Group Ltd has formed a
joint venture with Huaneng Renewables on wind and
solar power development.
* GOME Electrical Appliances, China's No. 2 home
appliance chain, reported a first-half loss as expected, and
said profitability should improve thanks to lower costs and a
likely pick-up in its online business.
* Sports shoe maker Yue Yuen Industrial (Holdings) Ltd
posted a 22.3 percent rise in 9-month profit to $427.9
million for the period ended in June.
* China's Weichai Power Co Ltd will
pay 467 million euros ($584 million)to take a 25 percent stake
in German forklift truck maker Kion Group, the two
companies said on Friday.
* China's top refined copper producer Jiangxi Copper Company
said it has started trial production this
month at a 400,000-tonne-per-year manufacturing plant that uses
refined copper, boosting demand prospects in the world's largest
copper consuming country.
* Brazilian miner Vale signed
an agreement to sell 10 large iron ore carriers for $600 million
to Polaris Shipping Co Ltd, and will instead lease
the vessels, it said on Friday in a filing.
* Kingway Brewery Holdings Ltd said a number of
interested parties are initiating talks with the company
regarding sales of its brewery business and assets, but no
transactions and decisions have yet been made. For statement, http://www.hkexnews.hk/listedco/listconews/sehk/2012/0903/LTN20120903004.pdf
* Yanchang Petroleum International Ltd said its
major shareholder Shaanxi Yanchang Petroleum (Group) Co Ltd had
agreed to increase its stake in the company to 29.69 percent
from 16.33 percent for HK$663 million. The company will use the
proceeds to fund its oil and gas business and the exploitation
of the oil field blocks in Madagascar. For statement, http://www.hkexnews.hk/listedco/listconews/sehk/2012/0902/LTN20120902042.pdf
* Winteam Pharmaceutical Group Ltd said
state-owned China National Pharmaceutical Group Corp. would buy
19.9 percent stake in the company for up to HK$603.3 million and
would make a general offer of up to HK$1.70 per share, a 17.2
percent premium over the previouse close. For statement, http://www.hkexnews.hk/listedco/listconews/sehk/2012/0831/LTN20120831952.pdf
(Reporting by Clement Tan and Donny Kwok; Editing by Richard
Pullin)