Cheng Shin, Danamon, Hyunda, Rizal, Woori: Asia Ex-Japan Equity Preview

The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.

Bank of Nanjing Co. (601009 CH): Bank of Taiwan signed a cooperation agreement with Bank of Nanjing, the Taipei-based lender said in an email statement. Bank of Taiwan will be able to offer yuan loans to Taiwanese companies in the mainland through the tie-up with the Chinese lender, the statement said. Bank of Nanjing gained 2 percent to 10.69 yuan.

Cheng Shin Rubber Industry Co. (2105 TT): The company’s China unit decided to invest an additional $50 million in a Chongqing subsidiary to make tires, the parent said in a statement to the Taiwan stock exchange. Cheng Shin Rubber, a Taiwanese tire manufacturer, climbed 0.7 percent to NT$61.90.

Hyundai Motor Co. (005380 KS): South Korea’s biggest automaker has set up a team to collect data on rare earths metals for electric cars, the Maeil Business Newspaper reported, citing government and industry officials it didn’t identify. Hyundai Motor advanced 1.7 percent to 178,000 won.

PT Bank Danamon Indonesia (BDMN IJ): The Indonesian bank owned by Temasek Holdings Pte and Deutsche Bank AG said profit more than quadrupled in the fourth quarter last year on loan growth and non-interest income such as fees and insurance. Danamon rose 1.6 percent to 6,450 rupiah.

Rizal Commercial Banking Corp. (RCB PM): The Philippine lender expects to raise as much as 6.5 billion pesos ($150 million) from a planned share sale within the first quarter, President Lorenzo Tan said. The bank expects profit to rise 10 percent this year, and it aims to grow its loans by 15 percent, Tan said. The stock advanced 2.7 percent to 26.65 pesos.

STX Pan Ocean Co. (028670 KS): South Korea’s largest dry- bulk shipping line plans to increase its owned and chartered ships to 550 this year to meet rising demand for shipments, Korea Economic Daily reported on its website, citing an interview with STX Pan President Bae Seon Ryung. STX retreated 1.4 percent to 10,400 won.

TCL Corp. (000100 CH): The company’s sales of LCD televisions in January rose 9.2 percent from a year earlier to 1.2 million units, the Chinese manufacturer of electronic products said in a statement on the Shenzhen Stock Exchange website. TCL declined 3 percent to 4.23 yuan.

Woori Finance Holdings Co. (053000 KS): South Korea’s third-largest financial company by market value was chosen by state-run Korea Deposit Insurance Co. as a preferred bidder for Samhwa Mutual Savings Bank, Edaily news provider reported, citing industry officials that it didn’t identify. Woori Finance fell 1 percent to 14,400 won.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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