Genting, Gryphon, Hyundai Steel, Rio Tinto: Asia Ex-Japan Equity Preview

The following companies may have unusual price changes today in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.

Genting Malaysia Bhd. (GENM MK): The casino operator said it submitted a formal bid to develop and operate a video lottery facility at Aqueduct Racetrack in the city of New York. Genting Malaysia fell 1.8 percent to 2.73 ringgit.

Gryphon Minerals Ltd. (GRY AU): The Australian mining company intends to acquire 100 percent of Shield Mining Ltd. Shield shareholders will receive one Gryphon share for every three Shield shares, according to statements by the companies. Gryphon declined 4.7 percent to 81.5 Australian cents on June 28 before trading in the stock was halted.

Hyundai Steel Co. (004020 KS): South Korea’s second-biggest steelmaker and Dongkuk Steel Mill Co. (001230 KS), the third- largest, will raise prices of their steel products. Hyundai will raise prices for hot-rolled coils and heavy plates by 50,000 won ($41) per metric ton, starting July 18, the Incheon-based company said. Dongkuk will raise domestic prices of heavy plates by 5.6 percent from July, it said. Hyundai Steel was unchanged at 90,400 won and Dongkuk gained 0.2 percent to 22,000 won.

Lian Beng Group Ltd. (LBG SP): The Singapore construction company said it won an S$88.3 million ($63 million) contract to build a condominium in Singapore. The contract was awarded by UOL Development Pte., Lian Beng said in a statement. Lian Beng was unchanged at 28 Singapore cents.

Manila Water Co. (MWC PM): The Philippine company elected Gerardo Ablaza, former Globe Telecom Inc. chief, as its president, replacing Rene Almendras, who was named Philippine energy secretary, company spokespersons said. Manila Water, a water utility company, gained 1.5 percent to 16.50 pesos.

Rio Tinto Group (RIO AU): The Australian Competition Tribunal said Rio Tinto’s Robe railway line in Western Australia’s Pilbara district should be open to third party access, expiring Nov. 19, 2018. Rio Tinto, the world’s third- largest mining company, fell 2.6 percent to A$66.66.

Taiwan Mobile Co. (3045 TT): The company is seeking alternatives to complete the purchase of local cable operator Kbro Co. from Carlyle Group after an agreement for the stake sale expired, Taiwan Mobile said in a stock exchange filing. Taiwan Mobile gained 0.8 percent to NT$65.70.

-With assistance from Chan Tien Hin in Kuala Lumpur. Editor: Garfield Reynolds.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.