Agile, Angang Steel, Liansu, Zijin: Hong Kong Stocks Preview
The following companies may have significant price changes in Hong Kong or have been suspended. Stock symbols are in parentheses. Share prices are as of the last close.
The Hang Seng Index gained 0.1 percent to 23,786.30. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, declined 0.1 percent to 12,983.29.
Agile Property Holdings Ltd. (3383 HK): The Chinese developer said full-year contracted sales rose 61 percent to 32.3 billion yuan ($4.9 billion) from a year earlier. The stock dropped 0.2 percent to HK$12.56.
Angang Steel Co. (347 HK): The floods in Queensland state, 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. plans to sell about 150 million Liansu shares at HK$6.28 each, according to a statement. Liansu, a producer of plumbing supplies, dropped 1.6 percent to HK$6.84.
China Minsheng Banking Corp. (1988 HK): The lender said trading of its Hong Kong-listed shares will be suspended today pending an announcement of a placement of its yuan denominated shares. The stock slid 0.2 percent to HK$6.59.
Powerlong Real Estate Holdings Ltd. (1238 HK): The developer said contracted sales in 2010 rose 114 percent to 6.2 billion yuan 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.
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