China Mengniu, CLP, Standard Chartered, Suncorp: Hong Kong Equity Preview

The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.

The Hang Seng Index rose 0.9 percent to 20,051.91. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, gained 1.6 percent to 11,520.95.

China Mengniu Dairy Company Ltd. (2319 HK): The dairy products manufacturer was boosted to “outperform” from “neutral” by analyst Kevin Yin at Credit Suisse Group AG, who said a shift in the company’s product mix will drive margin expansion. The share-price estimate was raised to HK$28.50 from HK$26.80. China Mengniu’s shares rose 1.5 percent to HK$23.85.

CLP Holdings Ltd. (2 HK): A nuclear power plant in southern China had a “very small leakage” from a fuel rod last month, according to a statement from the Hong Kong government that cited electric utility company CLP Holdings Ltd. CLP’s stock was unchanged at HK$55.40.

Far East Consortium International Ltd. (35 HK): The real estate company’s full-year net income rose 257 percent to HK$305.5 million ($39 million) on a 35 percent climb in sales, it said. The shares gained 3 percent to HK$2.04.

Sau San Tong Holdings Ltd. (8200 HK): The seller of health and beauty products reported a full-year loss of HK$24.96 million, compared with a deficit of HK$30.65 million a year earlier, the company said. Sales rose to HK$470.73 million from HK$437.92 million, the company said. The stock fell 2.8 percent to 17.5 Hong Kong cents.

Standard Chartered Plc. (2888 HK): The British lender that earns at least three-quarters of its profit in Asia was raised to “buy” from “neutral” by UBS AG. The share price estimate was lowered to HK$210 from HK$232. The stock was unchanged at HK$186.10.

Suncorp Technologies Ltd. (1063 HK): The Hong Kong-based maker and seller of telephone equipment said it may buy Top Match Holdings Ltd., which holds a 50-year right to operate a fiber optic network in China. Suncorp may pay about HK$4.98 billion after a memorandum of understanding was signed, it said. Suncorp’s stock jumped 9.2 percent to 16.6 Hong Kong cents.

To contact the reporter on this story: Anna Kitanaka in Tokyo at akitanaka@bloomberg.net

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