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.
The Hang Seng Index (HSI) fell 1.6 percent to 23,253.84. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, declined 1.9 percent to 12,976.86.
Hong Kong banks: The Hong Kong Monetary Authority, the city’s de-facto central bank, is studying how to help local lenders meet global ratio requirements under the Basel III regulatory framework.
In 2015, banks in Hong Kong must start to maintain a minimum coverage ratio to ensure they have enough high-quality liquid assets to withstand extraordinary events, the HKMA said in an e-mailed reply to questions.
Hang Seng Bank Ltd. (11) (11 HK), the Hong Kong-based lender backed by HSBC Holdings Plc (5 HK), declined 1.4 percent to HK$122.50. BOC Hong Kong (Holdings) Ltd. (2388 HK), the Hong Kong unit of China’s third-largest lender by market value, declined 1.7 percent to HK$23.75.
Hong Kong developers: The number of home-sale transactions in Hong Kong last month declined 12 percent from a year earlier to 9,681, the Land Registry said yesterday.
Sun Hung Kai Properties Ltd. (16) (16 HK), the world’s biggest developer, slid 1.1 percent to HK$119.20.
Henderson Land Development Co. (12 HK), the builder controlled by billionaire Lee Shau-kee, dropped 1.5 percent to HK$51.40.
Cheung Kong (Holdings) Ltd. (1 HK), Hong Kong’s No. 2 developer by market value, fell 1.5 percent to HK$119.20. The company may raise its target for Hong Kong home sales this year, Wen Wei Po reported, citing Executive Director Justin Chiu.
China Construction Bank Corp. (939) (939 HK): Bank of America Corp., facing an estimated $18 billion bill to resolve mortgage and foreclosure disputes, may cover the cost by liquidating its stake in China Construction Bank, according to Citigroup Inc. China Construction Bank, the nation’s No. 2 lender by market value, sank 1.1 percent to HK$7.20.
China Power International Development Ltd. (2380) (2380 HK): The operator and developer of power plants in the nation said on- grid tariffs for six of its coal-fired power plants and five hydro power plants have been raised, according to an e-mailed statement yesterday. The stock was unchanged at HK$1.90.
China Wireless Technologies Ltd. (2369) (2369 HK): The provider of wireless systems solutions bought back 8 million shares for HK$14.95 million ($1.92 million), according to a Hong Kong stock exchange filing. The stock advanced 1.6 percent to HK$1.89.
Country Garden Holdings Co. (2007) (2007 HK): The Chinese developer controlled by billionaire Yang Huiyan said contracted sales for the first five months of the year were 17.8 billion yuan ($2.75 billion). The stock dropped 1.7 percent to HK$3.40.
Emperor Capital Group Ltd. (717) (717 HK): The Hong Kong-based financial services company said it will raise HK$585.3 million in a rights offer of two shares at 33.8 Hong Kong cents each for every share held. The company has applied to resume trading today after being suspended from May 31, it said.
Foxconn International Holdings Ltd. (2038) (2038 HK): Foxconn Technology Group, the maker of Apple Inc.’s iPads, yesterday reopened the polishing facilities in Chengdu in China’s Sichuan province that it closed after an explosion on May 20 that killed three people, Reuters said, citing the company. Foxconn International, the handset manufacturing unit of the world’s No. 1 contract electronics maker, declined 2.2 percent to HK$4.08.
MGM China Holdings Ltd. (2282 HK), Zhengye Internatational Holdings Co. (3363 HK): MGM, a Macau casino operator, rose to HK$16.30 from its initial offering price of HK$15.34 in gray- market trading before its scheduled debut on Hong Kong’s stock exchange today, the Standard said, citing Phillip Securities. Zhengye Internatational, a Chinese supplier of paper packaging for air conditioners, rose to HK$1.57 from HK$1.43 ahead of its official debut, the Hong Kong-based English-language newspaper reported today.
PCCW Ltd. (8) (8 HK): Hong Kong’s biggest phone company said the city’s stock exchange approved a separate listing of its telecommunications operations as a trust. The stock fell 0.7 percent to HK$2.97.
PetroChina Co. (857 HK): Asia’s largest company by market value plans to shut a crude distillation unit for maintenance at its Lanzhou refinery in China for about a month, Reuters reported, citing an unidentified industry official. The stock slid 2.1 percent to HK$11.04.
Seamless Green China Holdings Ltd. (8150) (8150 HK): The promoter of energy-efficient street lamps said it will raise HK$50.8 million placing 35 million shares at HK$1.45 each. The stock fell 2.3 percent to HK$1.74.
Zijin Mining Group Co. (2899 HK): China’s largest gold producer is seeking to invest in copper projects in central Africa after prices gained, Li Zhilin, general manager of the international division, said in Beijing yesterday. The shares dropped 0.9 percent to HK$5.82.
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