Asia Cement, HSBC, Shimao, Texwinca: 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.
Hong Kong developers: The city’s home prices fell for a second straight week, Centaline Property Agency Ltd. said. Home prices in the city declined 0.7 percent in the week ended Sept. 19 from a week earlier, according to Centaline.
Asia Cement (China) Holdings Corp. (743 HK): The cement maker’s average selling price of the material may rise 20 to 30 yuan a ton ($2.99 to $4.48) this year, the Standard reported, citing Chief Executive Chang Tsai-hsiung. The stock retreated 0.3 percent to HK$3.43.
HSBC Holdings Plc (5 HK): HSBC’s Michael Geoghegan will step down as chief executive officer and be replaced by investment banking chief Stuart Gulliver, according to the bank. Stephen Green, outgoing chairman, will be replaced by Finance Director Douglas Flint. The stock slid 0.6 percent to HK$80.60.
Shimao Property Holdings Ltd. (813 HK): The venture between Shimao and Taiwan’s Farglory Group’s property unit will start construction of an integrated park in China by the end of this year, Chao Teng-hsiung, chairman of Farglory said in Taipei. Shimao declined 0.7 percent to HK$13.34.
Texwinca Holdings Ltd. (321 HK): The fabric maker said it will boost its stake in unit Baleno Holdings Ltd. for HK$203.3 million ($26.2 million.) The stock dropped 2.3 percent to HK$8.70.
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