BYD Co., Orient Overseas, PICC, TVB: Hong Kong Stocks Preview

The following companies may have significant price changes in Hong Kong trading today. Stock symbols are in parentheses. Share prices are as of the last close.

The Hang Seng Index advanced 0.2 percent to 23,843.24. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, gained 0.7 percent to 12,649.97.

Developers: China increased the minimum down payment for second-home purchases to 60 percent from 50 percent, the State Council said.

“China will continue to effectively curb investment and speculative purchases of houses to consolidate and expand on previous measures,” according to a State Council statement.

China Resources Land Ltd. (1109 HK), a state-controlled developer, declined 0.1 percent to HK$14.52. China Overseas Land & Investment Ltd. (688 HK), controlled by the nation’s construction ministry, climbed 2.1 percent to HK$15.50.

BYD Co. (1211 HK): Wang Chuanfu, chairman of BYD, the Chinese automaker backed by Warren Buffett, said China will become the world’s biggest market for electric cars as the government seeks to limit the country’s dependence on foreign oil, the BBC reported, citing an interview. BYD slid 2.7 percent to HK$38.

Orient Overseas International Ltd. (316 HK): The Hong Kong- based container line said fourth-quarter sales at unit Orient Overseas Container Line rose 42 percent to $1.52 billion from a year earlier. The stock dropped 1.1 percent to HK$78.80.

PICC Property and Casualty Co. (2328 HK): China’s biggest non-life insurer said an audit by China’s National Audit Office revealed some branches violated laws and regulations “in the forms of false expenses, false premium increases and false claim settlement cases.” The problems have “no significant impact” on the company’s financial statements or operating results, according to a statement. The stock climbed 0.8 percent to HK$10.10.

Television Broadcasts Ltd. (511 HK): The company’s co- founder and Chairman Run Run Shaw is selling most of his stake in Hong Kong’s biggest TV company to investors including HTC Corp. Chairwoman Cher Wang. Shaw Brothers (Hong Kong) Ltd., owned by Shaw, will sell its 26 percent holding to a group led by ITC Corp. (372 HK) Chairman Charles Chan, and includes Wang and Providence Equity Partners, TVB said. Shaw’s foundation will sell its 6.23 percent stake to independent third parties, TVB said, without giving price details.

TVB advanced 2.8 percent to HK$45.90. ITC, an investor in properties, gained 2.8 percent to 36.5 Hong Kong cents.

To contact the reporter on this story: Hanny Wan in Hong Kong at

To contact the editor responsible for this story: Nick Gentle at

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