ICBC, Cathay Pacific, China Construction Bank, Sinopec: Hong Kong 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.

The Hang Seng Index fell 0.6 percent to 23,320.52. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, slid 1.2 percent to 12,937.10.

Banks: Central bank adviser Li Daokui said China may order higher reserve requirements for banks to counter capital inflows and a possible jump in lending at the start of 2011. Li commented after the Communist Party Politburo said the nation will move next year to a “prudent” monetary policy from the current “moderately loose” stance.

Industrial & Commercial Bank of China Ltd. (1398 HK) fell 1 percent to HK$5.98. China Construction Bank Corp. (939 HK) dropped 1.5 percent to HK$7.10.

Cathay Pacific Airways Ltd. (293 HK): John Slosar is set to take over as chief executive officer of the carrier, the company said. The stock slipped 0.4 percent to HK$23.60.

China Petroleum and Chemical Corp. (386 HK): The country’s largest refiner known as Sinopec was cut to “reduce” from “hold” at BNP Paribas. The stock dropped 1.8 percent to HK$7.26.

Orient Overseas (International) Ltd. (316 HK): Hong Kong’s largest container-shipping line may add routes and services on Asian and Middle East routes, according to Stephen Ng, director of corporate planning. The stock rose 0.3 percent to HK$78.50.

To contact the reporter on this story: Kana Nishizawa in Tokyo at knishizawa5@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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