9:00 PM Hong Kong, China – Stocks in Shanghai and Hong Kong edged lower. China is scheduled to release new bank loan data for January this week. The closely watched data is expected to show a new surge in bank lending ahead of 20% loan curb lending for the year. SAIC Motor sales in January surged 90%.

Ahead of economic reports on inflation and new loans stocks edged lower in Hong Kong and Shanghai.

Hang Seng index in Hong Kong decreased 114.19 or 0.58% to 19,550.89, and CSI 300 index in China lower 2.10 or 0.07% to 3,150.99.

China is scheduled to report new loans in January this week. New bank loans are expected to surge to a new high ahead of the clampdown that requires banks to cut lending by 21%.

In January loans may have surged before the loan curbs are in place. In the last quarter of 2009, banks in China offered more than 1 trillion yuan loans and for the year issued nearly 10 trillion yuan loans.

China Huaneng Group Corp plans to spin off its wind power subsidiary in a listing that may be valued as much as $950 million. China Longyuan Power Group Corp raised HK$20.1 billion in December.

For five years in a row China doubled its wind power generation capacity to 25.1 gigawatts and is expected to increase it to 150 gigawatts according to a research note from Goldman Sachs and reported on Bloomberg.

COSCO Shipping Co. reported its 2009 annual net income declined 90.6% to 135.5 million yuan on the sales decline of 43% to 3.9 billion yuan.

Shanghai Movers

China Merchants Bank Co., Ltd decreased 2.2% to 15.13 yuan.

Ping An Insurance (Group) Company of China, Ltd rose 0.04% to 48.09 yuan.

SAIC Motor Corporation Limited fell 0.1% to 20.13 yuan after the carmaker said sales totaled 307,384 units in January, up 89.8% from a year earlier.

HK Movers

China Resources Land Limited decreased 0.9% to HK$14.48 and the state-controlled developer will be added to the Hang Seng Index following a quarterly review.

Standard Chartered PLC the international banking group dropped 2.5% to HK$171.50.