ICBC, Regent Manner, Xingye Copper: Hong Kong Stock Preview
The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.
The Hang Seng Index declined 1.5 percent to 23,553.59. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, dropped 2 percent to 12,454.07.
Henderson Land Development Co. (12 HK): The company will pay about HK$2.58 billion ($331 million) to change the use of land it owns in Hong Kong, compared with the HK$2.9 billion the city government had asked for previously, the Standard newspaper said, without saying who provided the information. Henderson Land, controlled by billionaire founder Lee Shau-kee, fell 2.5 percent to HK$53.55.
Industrial & Commercial Bank of China Ltd. (1398 HK): The bank boosted loans by 16.9 percent in 2010 from a year earlier after the government relaxed lending to spur the economy, the Economy & Nation Weekly, published by the official Xinhua News Agency, reported Jan. 24 citing Chairman Jiang Jianqing. ICBC, China’s biggest bank by market value, slid 1.7 percent to HK$5.78.
Regent Manner International Holdings Ltd. (1997 HK): The company said it and its units recorded sales of $109.1 million in January, up 35 percent from a year earlier. Regent Manner, a service provider to the electronics manufacturing industry, declined 3.2 percent to HK$6.14.
Sino Prosper State Gold Resources Holdings Ltd. (766 HK): The company plans to invest HK$300 million to boost gold mining and processing capacity in China, the South China Morning Post said, citing Chief Executive Officer Richard Sung. The stock dropped 1.2 percent to 40 Hong Kong cents.
Xingye Copper International Group Ltd. (505 HK): The producer of high-precision copper plates said it’s expected to report a “significant” drop in profit for 2010 compared with 2009. The stock slid 1 percent to HK$2.01.
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