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HK stocks seen slightly lower; near 28-mth high

Published 10/11/2010, 09:57 PM
Updated 10/11/2010, 10:00 PM

HONG KONG, Oct 12 (Reuters) - Hong Kong stocks are set to slip slightly at the open on Tuesday, with the benchmark index seen consolidating at a more than two-year peak.

The benchmark Hang Seng Index <.HSI> was set to fall 0.2 percent to 23,161.21. The China Enterprise Index <.HSCE> was indicated to open 0.21 percent lower at 12,924.85.

The Hang Seng Index's 13 percent run up since the end of August has taken it well into technically overbought territory with its relative strength index at 81, the highest in more than three years, and traders may use any short-term U.S. dollar rebound as an excuse to book profit. (Reporting by Vikram S Subhedar; Editing by Chris Lewis)

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