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.
Cathay Pacific Pacific Airways Ltd. (293 HK): Asia’s largest international carrier has covered 30 percent of fuel needs this year through hedging contracts and covered 20 percent of next year’s needs, Finance Director James Hughes-Hallett told reporters yesterday in Hong Kong. Cathay Pacific was last traded at HK$16.34 before the shares were suspended yesterday.
HannStar Display Corp. (6116) (6116 TT): The flat-panel maker received an investigation report issued by the Korea Fair Trade Commission alleging it and other liquid crystal display panel makers violated the Korean competition law, according to a company statement to the Taiwan stock exchange. The fines to be imposed haven’t been announced, the statement said. HannStar is reviewing the report and will take proper actions, the statement said. HannStar rose 3.9 percent to NT$2.92.
Huaneng Power International Inc. (902) (902 HK): The unit of China’s biggest electricity producer will add 7,000 megawatts of generation capacity this year and about 5,000 megawatts in 2012, Vice President Lin Gang said on a conference call. About 15 to 20 percent of next year’s capacity to be added will be fueled by less-polluting energy sources including wind, gas and hydro, Lin said. Huaneng Power fell 1.2 percent to HK$3.30.
Malaysia Smelting Corp. (SMELT MK): The tin producer’s second-quarter profit more than quadrupled from a year earlier to 36.3 million ringgit ($12 million), helped by higher tin prices, according to an exchange filing. Its shares gained 2.2 percent to 4.14 ringgit.
Petronas Dagangan Bhd. (PETD) : The retailing arm of Malaysia’s state oil and gas company had a profit of 208.7 million ringgit in the first quarter ended June 30, according to a company statement. It didn’t provide year-earlier figures because it changed its financial year-end to Dec. 31 from March 31, it said. The stock rose 0.6 percent to 16.54 ringgit.
Philex Mining Corp. (PX) : The largest Philippine metals producer expects to exceed its 4 billion peso ($94 million) core profit target this year because of high gold prices, Chairman Manuel Pangilinan said. Philex rose 8.4 percent to 27.10 pesos.
PT Aneka Tambang (ANTM IJ): The Indonesian state company’s first-half net income rose 32 percent from a year earlier to 996.7 billion rupiah ($116.8 million), the nation’s State Owned Enterprises Ministry said in a statement. PT Timah’s (TINS IJ) net income jumped 103 percent from a year earlier to 655.3 billion rupiah, the statement said. Aneka, the nation’s second- largest nickel producer, rose 2.8 percent to 1,870 rupiah. Timah, Indonesia’s state-owned tin mining company, advanced 4.8 percent to 2,075 rupiah.
RFM Corp. (RFM) : The Philippine food and drinks-maker’s stock rating was increased to “buy” from “hold” with a 12- month share price estimate of 1.48 pesos by Lovell Sarreal, an analyst at ATR KimEng Securities Inc. The stock gained 5.4 percent to 1.17 pesos.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com