Bloomberg, (5/3) - Hong Kong shares
could sink further on Tuesday, dragged down by Europe's largest bank
HSBC Holdings after its 2012 profit miss triggered selling of its
London-listed stock.
HSBC is to increase dividends this year in a
show of strength over rivals even though the bank's annual profits fell
after a money-laundering fine and compensation paid to customers.
Several
Chinese policy announcements will also come into focus after outgoing
Premier Wen Jiabao kicked off the National People's Congress earlier on
Tuesday, putting China's 2013 GDP growth target at 7.5 percent and
consumer inflation target at 3.5 percent, according to targets contained
in prepared comments for delivery at the start of the NPC.
The
Chinese finance ministry said it was raising the quota for bonds issued
by local governments to 350 billion yuan in 2013, compared with 250
billion yuan in 2012.
Standard Chartered Bank and Want Want China
are among companies due to post final 2012 corporate earnings reports
on Tuesday. StanChart is set to post a record $7 billion profit despite a
big fine for breaking sanctions on Iran.
On Monday, the Hang
Seng Index ended down 1.5 percent at 22,537.8, just above last Tuesday's
two-month closing low. The China Enterprises Index of the top Chinese
listings in Hong Kong sank 2.1 percent.
http://www.reuters.com/article/2013/03/05/markets-hongkong-stocks-preopen-idUSL4N0BW3ZU20130305
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