HK shares open down 1.6 pct; Chalco slides

Hong Kong shares will open 1.6 percent lower on Monday, retreating from last week's 10 percent rally while Chalco is set to slump after posting a bigger-than-expected loss in the fourth quarter of 2008, its first deficit in a decade.

Aluminum Corp of China (2600.HK), better known as Chalco, will open 7.3 percent lower at HK$4.80. The world's largest aluminum company by market value warned of a loss in the first quarter of 2009 after global downturn eroded demand for the versatile metal. [ID:nHKG20771]

The benchmark Hang Seng Index .HSI was down 226.35 points at 13,893.15.

The China Enterprises Index .HSCE of top mainland firms was down 2 percent at 8,308.09.

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