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China Coal, CSR, HSBC, Yanzhou Coal: 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.
Steelmakers: Aggregate profit at China’s 77 largest steelmakers fell 2.1 percent to 32.9 billion yuan between January and April, Luo Bingsheng, Deputy Party Secretary of China Iron & Steel Association said in Shanghai yesterday.
Steel demand in China, the world’s biggest consumer, may rise by as much as a quarter by 2015 compared with demand last year, according to a projection from the China Iron & Steel Association.
Angang Steel Co. (347 HK), China’s biggest Hong Kong-traded steelmaker, rose 0.5 percent to HK$8.59. Chongqing Iron & Steel Co. (1053 HK), the steelmaker based in the southwestern Chinese municipality, was unchanged at HK$1.87.
Chaoda Modern Agriculture (Holdings) Ltd. (682 HK): The Chinese fruit and vegetable producer said it bought 10.7 million of its shares, and Chairman Kwok Ho bought 1 million. The stock jumped 4.7 percent to HK$3.79.
China Coal Energy Co. (1898 HK): China’s second-largest coal producer said the company’s joint venture with Shanxi Coking Coal Group, Huajin Coking Coal, will be split into two companies. China Coal Energy increased 2.1 percent to HK$10.14.
China Resources Enterprise Ltd. (291) (291 HK): The Chinese partner of SABMiller Plc is in talks to invest in six to seven Chinese projects in industries including retail and beverages, Radio Television Hong Kong reported, citing Chief Financial Officer Frank Lai. The stock declined 1 percent to HK$31.10.
CSR Corp. (1766 HK): China’s largest listed trainmaker said it won contracts worth a combined 3.94 billion yuan ($607 million). The stock advanced 0.5 percent to HK$7.64.
HSBC Holdings Plc (HSBA) (5 HK): Europe’s largest bank by market value said about 19 percent of shareholders voted against the bank’s executive pay report, marking the biggest protest over compensation among the U.K.’s five biggest banks this year. The stock gained 0.6 percent to HK$80.65.
Yanzhou Coal Mining Co. (1171 HK): China’s fourth-largest coal producer said its shareholders gave its board the right to buy back up to 10 percent of the company’s Hong Kong listed shares. The stock rose 2.5 percent to HK$30.55.
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