CLP Holdings, Cnooc, Geely, Trinity: 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.
China Life Insurance Co. (2628 HK): The nation’s largest insurer had its rating lowered to “in line” from “outperform” at Standard Chartered Plc. The stock dropped 2.1 percent to HK$28.60
CLP Holdings Ltd. (2) (2 HK): The Indian unit of Hong Kong’s biggest electricity supplier may acquire power projects and seek to build a large, coal-fired plant in the South Asian nation, Mahesh Makhija, CLP Power India Ltd.’s director of business development for renewable energy, said in an interview in Singapore. CLP lost 0.1 percent to HK$61.80.
Cnooc Ltd. (883) (883 HK): China’s biggest offshore oil producer boosted annual net income by 84 percent to 54.4 billion yuan ($8.3 billion), a record high, from the previous year. That compares with the average estimate of 52.4 billion yuan by 18 analysts in a Bloomberg survey. Cnooc gained 0.2 percent to HK$18.44.
Cosco Pacific Ltd. (1199) (1199 HK): Asia’s third-largest container-terminal operator is considering forming a business trust following Hutchison Port Holdings Trust (HPHT SP) initial public offering in Singapore, Deputy Managing Director Kelvin Wong said after the company reported profit last year more than doubled. The stock dropped 2.2 percent to HK$14.54.
Geely Automobile Holdings Ltd. (175) (175 HK): The unit of the Chinese automaker that owns Volvo Cars aims to boost sales by 15 percent this year to 480,000 units and wants to sell as much as 8 percent of its vehicles overseas, Executive Director Lawrence Ang said. The company reported second-half profit that missed estimates. Geely declined 5.7 percent to HK$3.
Trinity Ltd. (891) (891 HK): The luxury menswear retailer that sells brands including Gieves & Hawkes and Cerruti 1881 in China is targeting double-digit same-store sales growth this year, Managing Director Sunny Wong said after the company reported net income nearly doubled last year. The stock slid 0.5 percent to HK$7.68.
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