Air China, Ayala Land, LG, PT Astra, Woongjin: Asia Ex-Japan Stock Preview
The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Automakers: China’s monthly passenger-car sales growth slowed in May. Demand for cars, sport-utility vehicles and multipurpose vehicles rose 25 percent to 885,800 last month from a year earlier, the China Automotive Technology & Research Center said in a statement. That compares with 34 percent growth in April. SAIC Motor Corp. (600104 CH), China’s largest carmaker, fell 2.4 percent to 16.23 yuan. FAW Car Co. (000800 CH), which makes passenger cars in China with Volkswagen AG, lost 2.6 percent to 16.36 yuan.
Air China Ltd. (601111 CH): The company plans to stage a test flight using bio-fuel, the People’s Daily reported, citing a company official. The Chinese airline will use fuel made from purging nuts supplied by China Petroleum & Chemical Corp., the newspaper said on its website. Air China declined 1.9 percent to 10.60 yuan.
Ayala Land Inc. (ALI PM): The largest Philippine builder will pay 4.5 centavos a share in “regular” dividend for the first-half ending June 30, or 50 percent more than the amount it paid last year, a stock-exchange filing showed. The stock was unchanged at 13.50 pesos.
China Steel Corp. (2002 TT): Taiwan’s largest steelmaker said it will restart its No. 1 furnace by June 9 or 10. The plant was shut in January for regular maintenance, Vice President Chung le-min said. China Steel declined 1.5 percent to NT$30.1.
JG Summit Holdings Inc. (JGS PM): Cebu Air Inc., the second-largest Philippine airline, said it will start twice- weekly flights to Brunei Darussalam on Aug. 21. JG Summit, which owns Cebu Air, was unchanged at 13.75 pesos.
LG Display Co. (034220 KS): The world’s second-largest liquid-crystal display maker plans to sell 200 billion won ($162 million) of 5.35 percent bonds maturing in 2015, according to data compiled by Bloomberg. LG Display retreated 0.1 percent to 44,550 won.
PT Astra International (ASII IJ): Indonesia’s domestic car sales reached 390,000 units in May and will probably total at least 650,000 in 2010, Budi Dharmadi, director general of transportation and telecommunication at the Industry Ministry told reporters in Jakarta. Astra, Indonesia’s largest automotive retailer, fell 0.9 percent to 42,750 rupiah.
Woongjin Holdings Co. (016880 KS): Woongjin Energy Co., the South Korean company’s solar-energy venture with SunPower Corp., plans to spend 270 billion won between November last year and September to boost its silicon ingot production capacity to meet rising demand. The global market for solar energy may grow 60 percent a year by 2012, Woongjin Energy said. Woongjin Holdings rose 2.4 percent to 10,550 won.
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