HONG KONG, July 13 (Reuters) - Hong Kong shares are seen higher on Monday, bouncing off a more than two-week closing low for the main index, but gains may be fragile as investors look for clues in the heavy calendar of Chinese monthly data this week.
Exports in June rose 4.5 percent from May and year-on-year declines slowed while bank lending remained strong, but there are growing concerns over the pace and sustainability of the recovery in major global economies.
China Eastern Airlines will be in focus after it said it would merge with Shanghai Airlines in a share swap, and issue A shares and H shares worth about 7 billion yuan ($1.03 billion) to replenish its working capital.
Trading in China Eastern's shares listed in Hong Kong and Shanghai, suspended since last month, will resume trading on Monday.
The benchmark Hang Seng Index dropped 0.5 percent on Friday as worries about the global economic outlook kept buying in check.
STOCKS TO WATCH -
* Manulife Financial said it had completed a $1 billion issue of Innovative Tier 1 notes.
* Dynamic Energy Holdings on Monday said relevant government departments had granted approval for three of its coal mines to resume production, and that all its coal mines would resume operational status after the resumption. It gave no further details. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090713/LTN20090713002.pdf
* China Aoyuan Property on Sunday said it would sell 360 million new shares to its major shareholder at HK$1.73 each, or a 12.2 percent discount to the closing price of HK$1.97 on July 9, raising about HK$600 million to fund acquisitions and for working capital. Trading in the shares will resume on Monday. For statement please click http://www.hkexnews.hk/listedco/listconews/sehk/20090712/LTN20090712015.pdf ----------------------MARKET SNAPSHOT @ 2240 GMT ------------
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