HONG KONG, Oct 30 (Reuters) - Trading in Hong Kong stocks is 
expected to be volatile on Tuesday before the expiration of index 
futures late in the day, while a share placement by real estate 
developer Sun Hung Kai Properties <0016.HK> may prompt investors 
to book profits in property stocks following their stellar run. 
    "Sun Hung Kai's placement will have a negative impact on the 
property shares and investors will try to use the placement news 
as an excuse to have a correction," said Patrick Yiu, associate 
director at CASH Asset Management. 
    Mild pullbacks seen in other Asian markets may mean Hong Kong 
blue chips will pace those losses at the open.  
    But Yiu said Hong Kong-listed mainland companies may fare 
better than the blue chips, given their lagging performance over 
the last few sessions. Also, gains on Wall Street should lend 
support to Hong Kong, and at least one broker was predicting 
another record day to 32,000 points. 
    Sun Hung Kai has sold 72.5 million shares for up to US$1.43 
billion. The company was selling the shares at a range of 
HK$150.2 to HK$153.5 apiece, or at a discount of 4 percent to 6.1 
percent to its Monday closing price of HK$159.90, according to a 
term sheet obtained by Reuters. [ID:nHKG192559] 
    The benchmark Hang Seng index <.HSI> rose 3.9 percent to a 
record close of 31,586.90 on Monday. The China Enterprises Index 
of Hong Kong-listed mainland companies <.HSCE> rose 3.3 percent 
to 20,194.14 
    STOCKS TO WATCH: 
    * Top Asian oil refiner Sinopec Corp <0386.HK> posted an 8 
percent rise in third-quarter earnings on Monday, a better result 
than analysts had expected.    [ID:nHKG162693] 
    * China Life <2628.HK>, the country's largest life policy 
underwriter, posted a net profit of 7.82 billion yuan ($1.05 
billion) on Monday as investment gains ballooned amid healthy 
premiums growth. [ID:nHKF078663] 
    * Top Chinese oil firm PetroChina <0857.HK> will sell shares 
on the Shanghai stock exchange at 16.7 yuan apiece, the top end 
of an indicative price range, raising US$8.9 billion. 
[ID:nHKF078664] 
    * China CITIC Bank <0998.HK> said third-quarter net profit 
came in at 2.05 billion yuan, in accordance with international 
accounting standards. For details, see:    
http://main.ednews.hk/listedco/listconews/sehk/20071029/LTN20071029474.pdf 
    * China Eastern Airlines <0670.HK>, one of the country's top 
three carriers, said its third-quarter net profit doubled from a 
year ago. [ID:nSHA146784] 
    * Earnings reports from the following companies are due later 
in the day: 
      - Bank of China Ltd <3988.HK> 
      - Bank of Communications Co Ltd <3328.HK> 
      - BOC Hong Kong (Holdings) Ltd <2388.HK> 
    * China Oilfield Services <2883.HK> posted a 66.8 percent 
rise in nine-month profit to 1.7 billion yuan in accordance with 
Chinese accounting standards. For details, see: 
http://main.ednews.hk/listedco/listconews/sehk/20071029/LTN20071029427.pdf 
    * Chinese property developer Country Garden Holdings Co Ltd 
<2007.HK> has hired seven banks to sell offshore bonds to fund 
new projects and finance a loan repayment, the company said in a 
stock exchange filing. [ID:nHKG176380] 
    * Shanghai Industrial <0363.HK> said it would buy a 19 
percent stake in Shanghai Urban Development for 1.57 billion 
yuan, raising its stake in the property development unit to 59 
percent. For more, see:    
http://main.ednews.hk/listedco/listconews/sehk/20071029/LTN20071029467.pdf 
    FACTORS TO WATCH: 
* Nikkei <.N225> opens up 0.26 pct, Canon sold               [.T] 
* U.S. stocks-Rate cut hopes, commodity shares buoy Wall St  [.N] 
* STOCKS NEWS ASIA-Market factors, main events     [STXNEWS/ASIA] 
* Oil strikes record near $94 on Mexico, dollar             [O/R] 
* Dollar dips to record lows ahead of Fed meeting          [USD/] 
* For upcoming Hong Kong events, click on              [HK/DIARY] 
* For Hong Kong press digest, click on                 [PRESS/HK] 
    KEY HK ADR MOVERS (by % change) 
    Yanzhou Coal               <YZC.N><1171.HK>  +7.8 
    CNOOC Ltd                  <CEO.N><0883.HK>  +7.5 
    China Unicom               <CHU.N><0762.HK>  +7.1 
    China South Air            <ZNH.N><1055.HK>  -3.4 
    APT Satellite              <ATS.N><1045.HK>  +4.3 
 (US$1=HK$7.8) 
  ((Reporting by Rita Chang; [email protected]; Reuters 
Messaging: [email protected]; +852-2843-6370)) 
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Keywords: MARKETS HONGKONG STOCKS PREOPEN 
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Keywords: MARKETS HONGKONG STOCKS PREOPEN