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HK shares set to rise after US retail sales data

HK shares set to rise after US retail sales data - Hong Kong - Retail - United States

HONG KONG, Sept 4 (Reuters) - Hong Kong shares are seen gaining on Friday after strong U.S. retail sales data boosted shares on Wall Street, but investors are likely to stay on the sidelines ahead of key monthly jobs data.

Bank stocks will be in focus after China's banking regulator said on Thursday it would only gradually exclude cross-bank holdings of subordinated bonds and similar instruments from banks' capital bases, taking some of the sting out of tighter new rules.

The regulator also sounded another warning to the nation's banks, saying they must strictly guard against risks and ensure that credit flows to the real economy, Wang Huaqing, a senior official at the China Banking Regulatory Commission (CBRC), was quoted as saying on Friday.


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