Mexico Congress Approves Oil Overhaul to Break State Monopoly
Bank of China, Cebu Air, Formosa: Asia Ex-Japan Equity Preview
The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Bank of China Ltd. (3988 HK): China’s fourth-largest lender by assets said its currency trade between Chinese yuan and Russian ruble exceeded 10 million yuan ($1.5 million) in the three trading days from Dec. 15, according to a statement posted on the lender’s website. Bank of China was unchanged at HK$4.06.
Cebu Air Inc. (CEB PM): JG Summit Holdings Inc. (JGS PM) acquired 584,240 shares in Cebu Air in the open market, a Philippine stock-exchange filing showed. Cebu Air gained 0.2 percent to 106.20 pesos. JG Summit rose 1 percent to 20.60 pesos.
First Steamship Co. (2601 TT): The Taiwanese tramp shipping company said it hired Yuanta Securities Co. to help it prepare the Taiwan listing of its Grand Ocean Retail Group Ltd. overseas unit, according to a statement to the Taiwan stock exchange. First Steamship climbed 0.4 percent to NT$68.50.
Formosa Petrochemical Corp. (6505 TT): Taiwan’s only publicly traded oil refiner’s board approved the issuance of up to NT$18 billion ($602 million) in corporate bonds with a maturity not exceeding seven years, the company said in a statement to the stock exchange. The funds will be used to repay debt and improve its balance sheet, the statement said. Formosa slipped 0.3 percent to NT$91.
HSBC Holdings Plc (5 HK): Europe’s biggest bank and Poste Italiane SpA won a contract to supply India’s postal service with prepaid cards, executives said. HSBC retreated 1.1 percent to HK$79.25.
Hyundai Engineering & Construction Co. (000720 KS): The company’s controlling shareholders voted to end talks about selling their stake to Hyundai Group. The shareholders will inform Hyundai Group of their decision, said Korea Exchange Bank, which owns shares in Hyundai Engineering. The stock advanced 0.4 percent to 70,100 won.
Hyundai Merchant Marine Co. (011200 KS): South Korea’s largest shipping company said it will sell 10.2 million new shares at 32,000 won apiece. The company will sell the shares later this week, it said in a regulatory filing. Hyundai Merchant fell 4.6 percent to 39,750 won.
United Energy Group Ltd. (467 HK): The Hong Kong investment holding company entered into a five-year cooperation agreement with China Development Bank Corp.’s Hong Kong branch on energy and mineral resources projects, according to a statement to the Hong Kong stock exchange. United Energy climbed 0.6 percent to HK$1.66.
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