The following companies may have significant price changes in Hong Kong. Stock symbols are in parentheses. Share prices are as of the last close.
Angang Steel Co. (347 HK): The floods in Queensland, Australia, won’t have a significant impact on coking coal supplies to China, said Fu Jihui, board secretary of Angang. Angang gets most of its coal from domestic mines, he said. Angang, a Chinese steelmaker, slid 1.8 percent to HK$12.38.
China Liansu Group Holdings Ltd. (2128 HK): New Fortune Star Ltd. is offering shares in Liansu for sale to raise as much as HK$772 million ($99 million), according to terms sent to investors. The 120 million shares are offered at from HK$6.16 to HK$6.43, according to the terms. Liansu, a producer of plumbing supplies, dropped 1.6 percent to HK$6.84.
Powerlong Real Estate Holdings Ltd. (1238 HK): The developer said contracted sales in 2010 rose 114 percent to 6.2 billion yuan ($936 million) from a year earlier. The stock declined 0.4 percent to HK$2.59.
Zijin Mining Group Co. (2899 HK): China’s largest gold producer said it will terminate an agreement to dispose of a 70 percent stake in China Gold Development Group (H.K.) Ltd. and that the termination has no “material adverse impact” on Zijin’s business and financial position. The shares lost 0.6 percent to HK$7.13.
To contact the reporter on this story: Hanny Wan in Hong Kong at firstname.lastname@example.org.
To contact the editor responsible for this story: Nick Gentle at email@example.com.