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.
Banks: China may have room for more sterilization of over- liquidity in the money supply following two 0.5 percentage point increases of the reserve requirement ratio, former central bank adviser Fan Gang wrote in a commentary in the China Daily. Further revaluation of the exchange rate is needed to reduce the current and capital account surpluses, Fan wrote.
Hong Kong developers: Measures to counteract speculation in Hong Kong’s real-estate market are having some success, though it’s still too early to measure their full impact, the city government’s Financial Secretary John Tsang said.
Cheung Kong (Holdings) Ltd. (1 HK), the city’s No. 2 developer by market value, gained 0.2 percent to HK$116.60. Sino Land Co. (83 HK), controlled by billionaire Robert Ng, advanced 0.4 percent to HK$16.12. Hang Lung Properties Ltd. (101 HK), which receives about 84 percent of its revenue from Hong Kong, declined 0.5 percent to HK$36.75.
China Life Insurance Co. (2628 HK): The insurer said it plans to inject 3 billion yuan ($450 million) into Guangdong Development Bank Co. by buying shares at 4.38 yuan apiece. China Life rose 0.2 percent to HK$33.75.
Sands China Ltd. (1928 HK): Macau’s second-biggest casino operator by market share said the Macau government rejected its application to develop the final two parcels of land in its China expansion plan. It has applied to resume trading today, the company said. Shares were suspended yesterday.
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