HK stocks gain; Ping An, Geely, BYD shine

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Friday September 03, 2010 08:58:01 AM GMT

HONG KONG, Sept 2 (Reuters) - Hong Kong stocks were set to open higher on Thursday as investor sentiment improves on gains in overseas markets after strong economic data from the United States and China.

Ping An Insurance (Group) Co of China Ltd <2318.HK> was set to rise 3.3 percent after the world's second-biggest insurer agreed to buy a stake in Shenzhen Development Bank Co Ltd <000001.SZ> [ID:nTOE68008Z]. Automobile maker Geely Automobile Holdings Ltd <0175.HK> was up 2.3 percent and BYD Co Ltd <1211.HK> climbed 2.9 percent on China's robust August car sales.

The benchmark Hang Seng index <.HSI> was indicated to open up 1.17 percent at 20,864.40. The China Enterprises Index <.HSCE> of top locally listed mainland Chinese companies was up 1.39 percent at 11,658.51. (Reporting by Donny Kwok; Editing by Chris Lewis)

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