China Steel, Fujian Sunner, Petron, Sinopec: Asia Ex-Japan Equity Preview

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.

China Steel Corp. (2002) (2002 TT): Taiwan’s largest steel producer reported June pretax profit NT$2.92 billion, 12 percent lower than the previous month, the company said in a statement to the Taiwan stock exchange. China Steel gained 1.3 percent to NT$32.

China Petroleum & Chemical Corp. (600028) (600028 CH): China’s biggest refiner signed an agreement to develop the Nanchuan shale gas block in southwest China, the Ministry of Land and Resources said in a statement on its website. The shares declined 0.4 percent to 8.03 yuan.

Fujian Sunner Development Co. (002299 CH): Net income in the first half rose 83.4 percent from the same period a year ago to 127 million yuan ($19.6 million), the poultry processor said in a statement to the Shenzhen Stock Exchange. Fujian Sunner fell 1 percent to 17.43 yuan.

Inari Bhd. (INRI MK): Shares of the Malaysian semiconductor packaging services company will make its debut on the Kuala Lumpur stock exchange. The company sold shares at 38 sen a share in its initial public offering, according to its prospectus dated June 28.

Manila Electric Co. (MER) : The largest Philippine power retailer reiterated an earlier plan to invest in a $1 billion, 600-megawatt coal-fired power plant north of Manila, a stock- exchange filing showed. The stock fell 0.4 percent to 272 pesos. Aboitiz Power Corp. (AP PM), a partner in the project, gained 2.5 percent to 32.60 pesos.

Petron Corp. (PCOR) : The largest Philippine oil refiner and the local unit of Royal Dutch Shell PLC won contracts to supply the Power Sector Assets and Liabilities Management Corp. with 8.34 billion pesos worth of fuel, the Manila-based state agency said. The stock jumped 5.7 percent to 16.78 pesos.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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