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.
Farglory Land Development Co. (5522 TT): The Taiwanese property company’s board authorized its chairman to spend as much as NT$7 billion ($243 million) buying land for development in Taipei and New Taipei cities, a stock-exchange filing showed. The stock increased 0.3 percent to NT$68.40.
KB Financial Group Inc. (105560) (105560 KS): South Korea’s financial regulator has asked KB Financial to bid for Woori Finance Holdings Co. (053000 KS), MoneyToday reported, citing unidentified industry officials. Still, KB reiterated it’s not interested in Woori, according to the Korean-language news provider. KB Financial decreased 0.8 percent to 51,600 won. Woori gained 0.4 percent to 13,200 won.
Maxwell International Holdings Bhd. (MAXWLL MK): The China- based sports shoe maker said it will seek shareholder approval for its proposal to buy back 10 percent of the company’s outstanding capital, according to a stock filing. The shares were unchanged at 50 sen.
Philippine Long Distance Telephone Co. (TEL) : The nation’s largest phone company will invest 67 billion pesos ($1.55 billion) this year and in 2012 for a network upgrade amid an expected “explosion” in demand for broadband, President Napoleon Nazareno said in remarks printed in the company’s annual report. PLDT, as the company is also known, expects its core net income will be around 40.5 billion pesos in 2011 and 2012 and forecasts a return to “growth path” by 2013, Nazareno said in the report. The stock gained 0.3 percent to 2,304 pesos.
QBE Insurance Group Ltd. (QBE) : Australia’s largest insurer by market value said profit after tax for the first half ending June 30 is expected to be 50 percent to 60 percent higher than the $440 million reported for the first half of 2010. The stock rose 0.6 percent to A$17.28.
Samsung C&T Corp. (000830) (000830 KS): The South Korean trading company won a $151 million contract from Singapore to reclaim land, Yonhap News reported, citing the company. The stock rose 0.6 percent to 81,800 won.
Taiwan Semiconductor Manufacturing Co. (2330 TT): The world’s largest contract chipmaker bought NT$3.39 billion of equipment from ASML Hong Kong Ltd., a filing with the Taiwan stock exchange showed. The stock advanced 2 percent to NT$76.20.
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