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China Coal, China Zenith, PCCW, ZTE: 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.

The Hang Seng Index (HSI) rose 0.4 percent to 22,508.08. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, gained 0.4 percent to 12,432.84.

Hong Kong banks: The Hong Kong Monetary Authority plans to increase lenders’ reserve requirements, the Standard newspaper said, citing Benjamin Hung, chief executive officer of Standard Chartered Bank’s Hong Kong unit.

Hang Seng Bank Ltd. (11) (11 HK), the Hong Kong-based lender backed by HSBC Holdings Plc (HSBA) (5 HK), rose 1.1 percent to HK$123. BOC Hong Kong (Holdings) Ltd. (2388 HK), the Hong Kong unit of China’s third-largest lender by market value, gained 1.1 percent to HK$23.05.

Power generators: China’s major banks agreed to help electricity generation companies with funding at the request of the government, China National Radio reported, citing Xu Yongsheng, a spokesman for the National Energy Administration. The country has enough coal to meet demand for power companies, the report said.

Huaneng Power International Inc. (902) (902 HK), an operator of coal-fired plants in China, rose 0.5 percent to HK$4.29. Datang International Power Generation Co. (991 HK) rose 0.4 percent to HK$2.76.

China Coal Energy Co. (1898 HK): The coal producer said output in May rose 11.5 percent to 9.19 million tons from a year earlier. Production volume of coking coal fell 9.5 percent in the month to 190,000 tons. The shares gained 0.4 percent to HK$10.14.

China Nonferrous Metals Co. (8306 HK): The producer of fertilizers in China said it has applied to move its listing to the main board of Hong Kong’s stock exchange. The stock jumped 5.5 percent to 21 Hong Kong cents.

China Zenith Chemical Group Ltd. (362) (362 HK): The coal-cased chemicals producer said profit for the year ended June 30 may decline as a result of a May 30 industrial accident that killed five workers and injured another. The stock slid 3.3 percent to 8.7 Hong Kong cents.

PCCW Ltd. (8) (8 HK): Hong Kong’s biggest phone company by market value may raise as much as HK$13.5 billion ($1.73 billion) selling a stake in a trust comprising its telecommunications assets that it plans to spin off, Macquarie Group Ltd. said. The stock fell 0.7 percent to HK$3.02.

Ping An Insurance Group Co. (2318 HK): China’s second- largest insurer by market value said premium income for its life-insurance unit was 64.1 billion yuan ($9.89 billion) in the five months ended May 31, and 33.7 billion yuan for its property and casualty insurance unit. That compares with 77.7 billion yuan and 24.7 billion yuan respectively for the same period a year earlier. The stock gained 0.1 percent to HK$77.80.

Silver Base Group Holdings Ltd. (886) (886 HK): The Chinese wine and cigarette distributor said full-year net income increased to about HK$585.3 million from HK$396.1 million a year earlier. The stock advanced 3.1 percent to HK$7.68.

Sun Hung Kai Properties Ltd. (16) (16 HK): The city’s biggest builder by market value plans to open its Mikiki shopping center in Hong Kong’s San Po Kong district in August, the Standard said, citing Fiona Chung, the general manager for leasing. The shares dropped 0.7 percent to HK$113.20.

Zhaojin Mining Industry Co. (1818 HK): The miner based in China’s Shandong province said shareholders voted down a proposal that would have allowed the board of directors to sell new H shares of as much as 20 percent of its existing H share capital. The stock rose 0.5 percent to HK$16.80.

ZTE Corp. (000063) (763 HK): The Guangdong-based maker of video conferencing systems plans to increase a two-part loan to $800 million from $500 million after hiring six banks to arrange the facility, a person familiar with the matter said.

Separately, the company said its parent cut its stake by 1.69 percent to 30.76 percent. The stock lost 1.1 percent to HK$26.85.

To contact the reporter on this story: Kana Nishizawa in Tokyo at knishizawa5@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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