Hutchison Whampoa, MIE, Ping An: 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.
Hutchison Whampoa Ltd. (13 HK): The company said it and Cheung Kong (Holdings) Ltd. (1 HK) will jointly pay 1.27 billion yuan ($191 million) for two residential and commercial building sites in the Wolong Bay section of Dalian in northeast China.
Hutchison Whampoa, the telecommunications and energy company controlled by billionaire Li Ka-shing, dropped 0.1 percent to HK$80.60. Cheung Kong, Hong Kong’s No. 2 developer by market value, gained 1.4 percent to HK$115.90.
MIE Holdings Corp. (1555 HK): The Chinese operator of oilfields sold 662 million shares at HK$1.70 apiece, raising net proceeds of HK$596 million ($76.6 million), according to a statement. Trading starts today.
Ping An Insurance (Group) Co. (2318 HK): The insurer’s life insurance premiums for the first 11 months of this year totaled 147.6 billion yuan, according to a statement. Life insurance premiums for the same period of 2009 were 121.9 billion yuan, Ping An said last year. Ping An, China’s second-largest insurer, slid 0.8 percent to HK$88.10.
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