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HK stocks set to open up on U.S. GDP; ICBC rises

Published 10/29/2009, 09:58 PM
Updated 10/29/2009, 10:03 PM
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HONG KONG, Oct 30 (Reuters) - Hong Kong stocks are set to open 2.14 percent higher on Friday, spurred by better than forecast U.S. growth data, with Industrial Commercial Bank of China (ICBC) rising as its quarterly profit jumped.

ICBC rose 2.47 percent after reporting that its quarterly profit jumped 19 percent, helped by a lending boom in the mainland. Rival Bank of China was up 2.54 percent after saying profit rose 19 percent.

The benchmark Hang Seng Index was indicated to open up 455.42 points at 21,720.41.

The China Enterprises Index of top locally listed mainland Chinese stocks was set to rise 2.17 percent to 12,737.24.

Comtec Solar Systems Group debuted at HK$2.18 versus its IPO price of HK$2.10.

Brilliance China Automotive gained 8.53 percent. The Chinese minibus manufacturer and a joint venture partner of BMW said it would sell its loss-making Zhonghua sedan brand business.

(Reporting by Jun Ebias; Editing by Jonathan Hopfner)

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