HONG KONG, June 24 (Reuters) - Hong Kong shares are seen gaining on Wednesday, helped by bargain buying after the previous session's steep losses, while energy stocks are seen recovering on crude oil's overnight gains.
Crude oil futures rose 2.6 percent on Tuesday after the dollar weakened and disruptions from OPEC member Nigeria stoked supply concerns.
Chinese electricity producers may gain on a report that said growth in China's daily power output in the second 10-day period in June returned to positive territory.
Power production was up 3.8 percent in the period from a year earlier, growing for the first time since mid-March, the Shanghai Securities News reported on Wednesday, citing data from the State Power Distribution Center.
The benchmark Hang Seng Index shed 2.9 percent to fall to a one-month low on Tuesday amid renewed worries about the global economy.
STOCKS TO WATCH-
* Bank of Communications, China's fifth-largest bank, on Wednesday said it had won regulatory approval to issue 25 billion yuan ($3.66 billion) in subordinated bonds to bolster its capital base.
The amount was part of a total of 80 billion yuan in subordinated bonds that BoCom planned to issue from 2009 to 2011 to improve its capital and debt structure, it said in a statement published in the official Shanghai Securities News.
* Sinopec Corp will issue 20 billion yuan ($2.9 billion) in three-year corporate notes in China's Shanghai-based interbank market on Friday, the official Shanghai Securities News reported on Wednesday.
Sinopec, Asia's biggest oil refiner, had previously registered note issuance of 30 billion yuan with the National Association of Financial Market Institutional Investors to supplement its operational capital and improve its debt structure.
The other 10 billion yuan was already floated in March.
* Luxury residential property prices in major Chinese cities have rebounded as much as 20 percent from the bottom early this year with demand fuelled by concern over inflationary pressures and stock market volatility, the South China Morning Post reported. ----------------------MARKET SNAPSHOT @ 2256 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 <.SPX> 895.1 0.23% 2.060
USD/JPY
MARKET SUMMARY
*Oil jumps 2 pct on Nigeria disruptions, weaker dollar [nSIN510304]
*Dollar pressured ahead of Fed meeting outcome [nN2387864]
*Treasuries rise as 2-year auction goes down easy [nN2390483]
*S&P gains on bargain hunting, but Boeing hits Dow [nN2392310] (Reporting by Parvathy Ullatil; Editing by Chris Lewis)