Bukit Asam, Cathay, Formosa, Samsung Fine: Asia Ex-Japan Equities 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.
Cathay Pacific Airways Ltd. (293) (293 HK): Hong Kong’s biggest carrier will operate extra flights from Tokyo every day until March 21, spokeswoman Qunice Chong said at a press briefing broadcast on Hong Kong television. The stock slipped 0.5 percent to HK$17.58.
Guangzhou Iron and Steel Co. (600894 CH): The Chinese manufacturer of steel products reported a net loss of 97.9 million yuan ($14.9 million) last year, compared with a net profit of 37 million yuan in 2009, according to a statement to the Shanghai Stock Exchange. Guangzhou gained 0.6 percent to 6.86 yuan.
Formosa Chemicals & Fibre Corp. (1326) (1326 TT): The producer of petrochemical products plans to sell NT$10 billion ($337.9 million) of bonds, the company said in a statement to the Taiwan Stock Exchange. Formosa Chemicals rose 2.4 percent to NT$106.50.
PT Tambang Batubara Bukit Asam (PTBA IJ): Indonesia’s state-owned coal producer won a contract to develop a coal-bed methane block in Sumatra, the nation’s energy ministry said in a statement. Bukit Asam advanced 0.3 percent to 20,400 rupiah.
Samsung Electronics Co. (005930 KS): The world’s largest memory-chip maker plans to invest 1.7 trillion won ($1.5 billion) to buy new shares of Samsung Mobile Display Co., Edaily reported, without saying where it got the information. Samsung climbed 0.1 percent to 891,000 won.
Samsung Fine Chemicals Co. (004000 KS): The South Korean chemical maker plans to stop production of ammonia, formic acid and two other chemical products in which it is less competitive, starting the end of April, according to a regulatory filing. The company plans to buy those products from other suppliers, the filing said. Samsung Fine rose 2.1 percent to 72,500 won.
Shenzhen Energy Group Co. (000027 CH): The Chinese power producer will invest about 1.1 billion yuan in clean-energy projects including a wind farm and a biomass plant. Shenzhen climbed 0.6 percent to 10.06 yuan.
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