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Largan Precision, Manila Electric, Powerchip: Asia Ex-Japan Stock Preview
The following companies may have unusual price changes in trading in Asia, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Chipmakers: Powerchip Technology Corp. (5346 TT), Taiwan’s largest chipmaker, said June revenue surged 303 percent to NT$8.56 billion from a year earlier. The stock jumped 6.9 percent to NT$4.48.
Nanya Technology Corp. (2408 TT), Taiwan’s second-largest chipmaker, said June sales rose 105 percent from a year earlier. The stock advanced 1.8 percent to NT$25.20.
Ayala Land Inc. (ALI PM): The largest Philippine developer has been raised to “buy” from “hold” by CitisecOnline.com Inc. analyst Richard Laneda. The stock’s 12-month share price estimate was increased to 15.75 pesos from 14.25 pesos. The stock was unchanged at 13.25 pesos.
Catcher Technology Co. (2474 TT): The supplier of computer casings to customers including Apple Inc. said sales in June rose 77 percent to NT$116.55 million. The stock gained 1.9 percent to NT$69.40.
Hyundai Corp. (011760 KS): The company was picked as a preferred bidder for Korea Resources Corp.’s stake in a Madagascar nickel mine, Yonhap News reported, citing the South Korean trading company. The stock fell 1.3 percent to 25,950 won.
Largan Precision Co. (3008 TT): Taiwan’s largest maker of lenses for digital cameras said June sales rose 67 percent to NT$756.56 million from a year earlier. The stock jumped 6.8 percent to NT$547.
LG International Corp. (001120 KS): The company said it plans to sell a 52.9 billion won ($43 million) stake in Aromatics Oman LLC to a state-run Oman company. LG International lost 2 percent to 29,700 won.
Manila Electric Co. (MER PM): The largest Philippine power retailer was raised to “buy” from “hold” by CitisecOnline.com Inc. analyst Paul Jeffrey Lu, who forecast the stock to rise to 186 pesos in 12 months. The stock was unchanged at 181 pesos.
Metro Pacific Investments Corp. (MPI PM): The Philippine unit of Hong Kong’s First Pacific Co. was rated “hold” with a 3.30 peso 12-month share price estimate by CitisecOnline.com Inc. analyst George Ching. The stock rose 3.8 percent to 2.75 pesos.
SK Telecom Co. (017670 KS): South Korea’s largest mobile- phone operator is in talks with Apple Inc. to offer the iPad tablet computer and iPhone in South Korea, a company spokeswoman said. The shares climbed 0.9 percent to 162,500 won.
To contact the reporter on this story: Hanny Wan in Hong Kong at hwan3@bloomberg.net.
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