HONG KONG, Sept 17 (Reuters) - Hong Kong shares are set to rise on Thursday, continuing to track firmer overseas markets and riding on the U.S. dollar weakness and optimism for an econonmic recovery.
"U.S. dollar weakness is likely to push the local market up further trying an upside at the 22,000-point mark," said Alex Wong, a director at Ample Finance Group.
Brokers said Chinese stocks and banks were likely to remain in demand as they were expected to be among the first to benefit from economic recovery.
Hong Kong shares rose 2.57 percent on Wednesday to a near 13-month closing high at 21,402.92, while the China Enterprises Index, which represents top locally listed mainland Chinese stocks, climbed 3.04 percent to 12,525.72.
STOCKS TO WATCH-
* Geely Automotive, the Chinese carmaker whose parent is eyeing Ford's Volvo unit, plans to issue convertible bonds and warrants worth $250 million, the China Business News reported on Thursday.
* Steel-to-property conglomerate CITIC Pacific Ltd <0267.HK> aims to list in China, joining other top Hong Kong-listed Chinese companies that are looking to list in their home market, media reported on Thursday.
* Cash-strapped Cathay Pacific Airways said it would sell 12.45 percent of Hong Kong Aircraft Engineering Co Ltd (HAECO) <0044.HK> to parent Swire Pacific for $245 million or HK$91.83 per share, slightly below HAECO's close of HK$93.30 on Wednesday. --------------------- MARKET SNAPSHOT @ 2320 GMT -------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 <.SPX> 1,068.76 1.53% 16.130
USD/JPY
MARKETS SUMMARY *Wall St rises for 3rd day on economic optimism [nN16246119] *Oil climbs above $72 as US stockpiles slip [nSP530535] *Dollar drops to near 1-year lows on stocks, recovery [nN16154909] *Bonds dips as strong economic data weigh [nN16592499] *Gold ends near 18-month high as dollar slides [nLG17282] (Reporting by Donny Kwok; Editing by Chris Lewis)