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.
Airlines: China will start selling tickets for the Shanghai-Beijing high-speed rail line today, Xinhua News Agency said, citing the Ministry of Railways. The 1,318-kilometer line will enable passengers to travel from Beijing to Shanghai in less than five hours, boosting competition for domestic airlines on the nation’s busiest air-route.
Air China Ltd. (601111) (753 HK) fell 1.6 percent to HK$7.20. China Eastern Airlines Corp. (670 HK) was unchanged at HK$3.17.
Power companies: China’s National Development and Reform Commission won’t allow local governments to give power-price discounts without approval as part of measures to regulate market order, according to a statement posted on its website yesterday. Those found to be doing so will be fined, the statement said.
Huaneng Power International Inc. (902) (902 HK) lost 1.2 percent to HK$4.03. Datang International Power Generation Co. (991 HK) fell 0.4 percent to HK$2.58.
China Citic Bank Corp. (998 HK): The commercial bank’s shareholder, Banco Bilbao Vizcaya Argentaria SA, formally promised to take up its allotment of H shares under the Chinese lender’s rights offer.
China Citic Bank also said it plans to raise 26 billion yuan ($4 billion) in a domestic and Hong Kong rights offer to increase capital for development. The stock fell 1 percent to HK$4.91.
China Mobile Ltd. (941) (941 HK): The mobile phone operator will offer Apple Inc.’s iPhone, probably a 4G version, starting in September, Shanghai Daily reported, citing the microblog of Liu Yang, a company marketing official. The shares were unchanged at HK$69.85.
China Nonferrous Metals Co. (8306 HK): The fertilizer company said its application for a listing on the main board of Hong Kong’s stock exchange was returned by the bourse operator because it hasn’t published the circular required of mineral companies. The stock gained 5.1 percent to 18.4 Hong Kong cents.
China Railway Construction Corp. (1186 HK): The railway operator said it won 10.3 billion yuan ($1.6 billion) of contracts to build station-related projects on the new Jilin- Huichun rail line. The shares fell 2.4 percent to HK$6.18.
China Telecom Corp. (728 HK): The phone company said it will temporarily withhold 20 percent of final dividends to be paid to individual shareholders of its Hong Kong-traded shares for possible tax payments under Chinese tax regulations. The stock lost 0.4 percent to HK$4.79.
Foxconn International Holdings Ltd. (2038) (2038 HK): Hong Kong’s stock exchange said three filings from Foxconn in 2008 were inaccurate because the handset manufacturer failed to provide timely guidance about the decline in its profit. Foxconn lost 0.9 percent to HK$3.31.
Guoco Group Ltd. (53) (53 HK): Rank Group Plc said while it continues to believe that Guoco’s final offer of 150 pence per share “substantially undervalues” the company, it is changing its advice and is now recommending that shareholders accept it. Guoco advanced 0.1 percent to HK$95.10.
Hutchison Whampoa Ltd. (13) (13 HK): The company will buy 3.7 million new shares in Husky Energy Inc. (HSE CT) for C$27.05 each, or a total of about C$100 million ($102 million). Hutchison gained 0.3 percent to HK$81.80.
PetroChina Co. (857 HK): The company will temporarily withhold 20 percent of final dividends to be paid to individual shareholders of its Hong Kong-traded shares for possible tax payments under Chinese regulations. The stock declined 1.3 percent to HK$10.90.
Sihuan Pharmaceutical Holdings Group Ltd. (460) (460 HK): The Chinese drugmaker, which is buying Smart Baskets Investments Ltd., expects the acquisition to add to earnings this year by expanding sales of traditional Chinese medicines. Shares lost 4.4 percent to HK$3.48.
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