Philippine Banks, Builders: The nation’s central bank cut its benchmark interest rate to a record low of 4 percent, the sixth reduction in seven months to revive economic growth after the global recession hurt exports.
Bank of the Philippine Islands (BPI PM), the nation’s biggest bank by market value and also known as BPI, gained 1.2 percent to 43.50 pesos. Megaworld Corp. (MEG) , the second-largest developer, climbed 1 percent to 98 centavos.
Alesco Corp. (ALS AU): The Australian building materials and home products maker expects to report a post-tax loss of about A$13 million, which includes a A$70 million impairment charge, a filing to the stock exchange showed. The stock rose 0.3 percent to A$3.45.
DMCI Holdings Inc. (DMC) : The largest Philippine construction company said its president, Isidro Consunji, sold 1.43 million shares in the open market at 6.20 pesos each. The stock gained 6.1 percent to 7 pesos.
E. Sun Financial Holding Co. (2884) : The Taiwanese financial services company posted a 64 percent decline in June sales to NT$26.47 million ($802,121) from a year earlier, a filing to the stock exchange showed. The stock gained 0.4 percent to NT$11.6.
Goldsun Development & Construction Co. (2504) : Taiwan’s third-largest construction material company by market value posted a 23 percent decline in June sales to NT$679 million, a filing to the stock exchange showed. The stock fell 0.6 percent to NT$16.1.
Healthscope Ltd. (HSP AU): Australia’s second-largest hospital owner said it plans to write off A$13.8 million ($10.8 million) from last year’s results after a court rejected an appeal linked to its failed attempt to buy Symbion Health Ltd. in 2007. The stock gained 1.4 percent to A$4.26.
Kumho Tire Co. (073240) : South Korea’s second-largest tire maker is in talks to expand sales to Bayerische Motoren Werke AG and Daimler AG’s Mercedes-Benz unit, Edaily reported, citing Chief Executive Officer Kim Jong Ho. Kumho is also seeking to increase its market share in China, the Korean-language online newspaper said. The stock added 0.2 percent to 4,730 won.
LS Corp. (006260) : LS Cable Ltd., South Korea’s biggest wire and cable maker, received a $200 million contract to build network facilities in Iraq, parent company LS Corp. said in a regulatory filing. The stock fell 0.4 percent to 95,000 won.
National Australia Bank Ltd. (NAB) : The nation’s biggest lender by assets plans to sell seven-year bonds in euros, a banker involved in the transaction said. Deutsche Bank AG and UBS AG will manage the sale with NAB, the banker said. The stock decreased 0.1 percent to A$22.07.
Sa Sa International Holdings Ltd. (178) : Hong Kong’s biggest cosmetics retailer said turnover for the three months ended June 30 rose 6.6 percent from a year earlier. The company said it remains confident of its retail business in the long term. The stock slid 1.2 percent to HK$3.21.
United Microelectronics Corp. (2303) : The world’s second-largest maker of custom chips, and also know as UMC, said its unit in Japan wrote off NT$3.38 billion in impairment losses on fixed assets. The stock fell 0.4 percent to NT$11.6.
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