Formosa, Gold One, Shinhan Financial, UMC: Asia Ex-Japan Equities Preview
Stock Chart for Gold One International Ltd (GDO)
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.
Alliance Select Foods International Inc. (FOOD) : The tuna exporter said it started operating a salmon and seafood processing facility in General Santos City, in Southern Philippines. The company plans to increase the facility’s capacity to 3 tons a day from one ton, a stock-exchange filing showed. The stock rose 0.8 percent to 1.23 pesos.
First Philippine Holdings Corp. (FPH) : The company bought back 500,000 shares at 60.98 pesos each on the open market, a stock-exchange filing showed. The stock decreased 1.5 percent to 61 pesos.
Formosa Petrochemical Corp. (6505) (6505 TT): Taiwan’s only publicly traded oil refiner estimated that a July 30 fire at its Mailiao complex caused NT$187 million ($6.5 million) in damages. The Mailiao refinery’s stoppage will cause an estimated NT$83 million of loss a day, the company said in a statement to the Taiwan stock exchange. Formosa fell 0.1 percent to NT$93.90.
Gold One International Ltd. (GDO) : Gold One said it entered into an agreement with a group of Chinese investors on them seeking to become the major shareholder and long-term strategic partner of Gold One. The transaction comprises a series of transactions, including a cash offer or 55 Australian cents per Gold One share and a minimum A$150 million ($161.5 million) capital injection into Gold One. The shares gained 1 percent to 52.5 Australian cents.
Shinhan Financial Group Co. (055550 KS): South Korea’s largest financial company by market value said second-quarter net income climbed to 964.8 billion won ($910 million) in the three months ended June 30 from a restated 447.6 billion won a year earlier, the Seoul-based company said in a regulatory filing. Gains from the sale of Hyundai Engineering & Construction Co. shares also boosted profit, the company said. Shinhan lost 1 percent to 49,000 won.
Sundance Resources Ltd. (SDL AU): Sundance remains in talks with potential partners for its iron-ore project in Africa. “I am in discussions with various parties every other day,” George Jones, chairman of the Perth-based company, told reporters at a conference in Western Australia. “At the same time, we’re engaged in talks with Hanlong to try and make it more palatable to shareholders.” The stock declined 1.9 percent to 50.5 Australian cents.
United Microelectronics Corp. (2303) (2303 TT): The world’s second-largest contract maker of chips said second-quarter net income fell 39 percent to NT$3.19 billion from NT$5.27 billion a year earlier, the Hsinchu, Taiwan-based company said in a statement. The average of 10 analyst estimates compiled by Bloomberg was for profit of NT$3.58 billion. United Microelectronics lost 1.2 percent to NT$12.65.
Zeus Holdings Inc. (ZHI PM): The company is in talks with potential partners for the acquisition and or exploration of mining claims in the Philippines, a stock-exchange filing showed. The stock fell 2.1 percent to 92 centavos.
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