Ayala, Chimei, CSC Steel, Megaworld, Santos: 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.

Philippine banks and builders: The yield of the 91-day treasury bill, which is used by banks to price loans, fell to 3.965 percent from 3.985 percent in yesterday’s auction, the first decline since May 3. Banco de Oro Unibank Inc. (BDO PM), the nation’s biggest bank by assets, increased 0.7 percent to 48.35 pesos. Metropolitan Bank & Trust Co. (MBT PM), the No. 2 lender, gained 0.8 percent to 60.70 pesos. Ayala Land Inc. (ALI PM), the Philippines’ largest developer, decreased 1 percent to 15.64 pesos. Megaworld Corp. (MEG PM), the second-largest builder, advanced 1.2 percent to 1.76 pesos.

Chimei Innolux Corp. (3481 TT): Taiwan’s largest maker of liquid-crystal displays posted profit that beat analysts’ estimates as demand for televisions climbed. Second-quarter net income was NT$9.54 billion ($301 million), or NT$1.43 a share, the company said. That’s almost double the NT$5.27 billion average of 12 analyst estimates compiled by Bloomberg. Chimei jumped 6.3 percent to NT$39.80.

Hyundai Department Store Co. (069960 KS): Hyundai Home Shopping Network Corp., a South Korean home-shopping channel operator, plans to raise as much as 270 billion won ($233 million) in an initial public offering next month. Hyundai Department Store, the biggest shareholder of Hyundai Home, rose 2.4 percent to 126,500 won.

Manila Water Co. (MWC PM): The utility that serves the east zone of the Philippine capital said first-half profit rose 34 percent to 1.97 billion pesos billion pesos as customers increased to 1.2 million and leaks dropped three percentage points. The stock fell 0.1 percent to 17.36 pesos.

Santos Ltd. (STO AU): Australia’s third-largest oil and gas producer expects to report a net profit after tax in the range of A$180 million ($165 million) to A$200 million for the half year ended June 30, the company said in a statement yesterday to the Australian stock exchange. That would be as much as 32 percent higher than analysts estimated. Santos gained 0.1 percent to A$13.49.

CSC Steel Holdings Bhd. (CSCS MK): The Malaysian producer of steel pipes, cold rolled coils and steel sheets said second- quarter profit more than tripled from a year earlier to 31.6 million ringgit ($10 million) as sales and prices increased. CSC was unchanged at 1.78 ringgit.

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

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