Cheung Kong, PetroChina, Zhaojin: Hong Kong Stocks 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.
Cheung Kong Holdings Ltd. (1) (1 HK): The Hong Kong developer controlled by billionaire Li Ka-shing won a building site in the city’s Yuen Long district in a government tender, according to a statement on the Lands Department website. Cheung Kong, Hong Kong’s second-biggest builder by market value, confirmed in a faxed statement it was the winner bidder. The stock declined 1.3 percent to HK$123.50.
China Minsheng Banking Corp. (1988 HK): The nation’s first privately owned bank said it received the central bank’s approval to sell as much as 10 billion yuan ($1.5 billion) of subordinated bonds in the nation’s interbank market. The stock fell 0.6 percent to HK$7.05.
Hutchison Whampoa Ltd. (13) (13 HK): The world’s biggest container-terminal operator’s planned $5.83 billion sale of Chinese port assets in what may be Singapore’s biggest initial public offering has met with “overwhelming” investor interest, the chairman of the trustee of Hutchison Port Holdings Trust, Canning Fok, told reporters in Singapore. The shares fell 0.8 percent to HK$90.60.
Modern Media Holdings (72) Ltd. (72 HK): The publisher said it signed an agreement with Bloomberg LP to publish a simplified- Chinese character edition of Bloomberg Businessweek in China, according to a Hong Kong stock exchange statement. Bloomberg LP is the parent company of Bloomberg News. The stock was unchanged at HK$1.85.
PetroChina Co. (857 HK): The oil explorer aims to produce about 10 million tons of oil and gas at its Jilin oilfield in 2015, Xinhua News Agency reported, citing Hou Qijun, general manager of the oilfield. The shares climbed 0.4 percent to HK$10.90.
Powerlong Real Estate Holdings Ltd. (1238) (1238 HK): The developer of commercial property plans to sell three-year, yuan- denominated bonds to yield around 11.75 percent, according to a person familiar with the matter. The shares lost 1.7 percent to HK$2.39.
Zhaojin Mining Industry Co. (1818 HK): The company has alloted 500 million yuan of its 2011 capital investment budget for the purchase of gold mines, the South China Morning Post said, citing Chairman Lu Dongshang. Zhaojin Mining, based in China’s Shandong province, jumped 5.6 percent to HK$35.90.
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