Geely Automobile, Hutchison, Intime: Hong Kong Stock Preview
Stock Chart for Hutchison Whampoa Ltd (13)
The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the close on Dec. 24.
Autos: China will on Jan. 1 raise tax on small vehicles to 10 percent from 7.5 percent, the Ministry of Finance said.
Dongfeng Motor Group Co. (489 HK), the Chinese partner of Nissan Motor Co., lost 1.7 percent to HK$12.86. Geely Automobile Holdings Ltd. (175 HK), whose parent bought Volvo Cars, slid 3.2 percent to HK$3.32.
Cheung Kong (Holdings) Ltd. (1 HK): Hong Kong billionaire Li Ka-shing’s Cheung Kong and Hutchison Whampoa Ltd. (13 HK) plan a residential-commercial development in Chongqing, China, with a total investment of 1.9 billion yuan ($287 million). The two companies are paying 1.3 billion yuan for the site, about 132,471 square meters, Hutchison said.
Cheung Kong, Hong Kong’s No. 2 developer by market value, slid 1.4 percent to HK$118.30. Hutchison, with operations in industries including ports and telecommunications, fell 0.1 percent to HK$79.85.
China Railway Group Ltd. (390 HK): The nation’s biggest construction company by total assets said it won 16 projects worth a combined 20.5 billion yuan. The company also agreed to buy a company that builds airports, roads and bridges from its parent for 372.9 million yuan. The stock fell 1.1 percent to HK$5.51.
Intime Department Store (Group) Co. (1833 HK): The company plans to develop eight shopping centers on top of subway stations in Beijing within the next five years, the South China Morning Post reported, citing Chief Executive Chen Xiaodong. Intime, a Chinese retail chain partly owned by Warburg Pincus LLC, fell 0.7 percent to HK$11.06.
New World Department Store China Ltd. (825 HK): The department store operator will dispose of its unit, Luxland Ltd., to Bassda Ltd. for 385 million yuan, according to a statement. The stock declined 0.3 percent to HK$6.32.
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