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HK shares to open up 1.46 pct; Alibaba higher

Published 09/28/2009, 09:58 PM
Updated 09/28/2009, 10:00 PM

HONG KONG, Sept 29 (Reuters) - Hong Kong shares are set to open up 1.46 percent on Tuesday, as an overnight rally on Wall Street could prompt investors to seek bargains after the index hit a three-week low.

The benchmark Hang Seng Index was set to open up 301.4 points at 20,889.81. The China Enterprise Index of top locally listed mainland Chinese stocks was up 1.58 percent at 11,938.15.

China's top e-commerce company, Alibaba.com, is set to rise 3 percent after it agreed to buy a controlling stake in China Civilink (Cayman) in a deal that could be valued up to $79.1 million to expand its customer base.

China South Locomotive & Rolling Stock Corp Ltd, the country's largest train maker, rose 2.6 percent after the saying it had entered contracts worth 72.4 billion yuan ($10.61 billion) to sell locomotives to the Ministry of Railways. (Reporting by Sui-Lee Wee, Editing by Chris Lewis)

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