AirAsia, Aquarius, Fubon, Hynix, Li & Fung: 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.
AirAsia Bhd. (AIRA) : The Employees Provident Fund, Malaysia’s biggest pension fund, bought 12.3 million shares in the budget carrier, an exchange filing showed. The fund bought the shares on Aug. 5, according to the filing. The stock fell 1.1 percent to 3.50 ringgit.
Aquarius Platinum Ltd. (AQP) : The metal producer is targeting a 15 percent increase in output next year, Chief Executive Officer Stuart Murray said during a conference call. The company targets output of 550,000 ounces of platinum group metals, Murray said. The stock fell 1.4 percent to A$3.55.
Chunghwa Picture Tubes (2475) Ltd. (2475 TT): The Taiwanese flat- panel company received a report from the Korea Fair Trade Commission alleging the company and other foreign and domestic makers of TFT-LCD violated Korean fair competition rules, according to a statement to the Taiwan stock exchange. The fines haven’t been determined and announced, the statement said. Chunghwa fell 3.2 percent to NT$2.75.
Energy Development Corp. (EDC) : The largest Philippine power producer using geothermal energy may release earnings as early as today. The stock increased 0.6 percent to 6.26 pesos.
Fubon Financial Holding Co. (2881 TT): The financial services company denied a report by the Economic Daily News it plans to buy a 19.99 percent stake in Bank of Guangzhou, according to a statement to the Taiwan stock exchange. The stock declined 3.2 percent to NT$43.80.
Hynix Semiconductor Inc. (000660) (000660 KS): Shareholders of the company aim to keep management rights of the world’s second- largest maker of computer memory chips in the hands of a South Korean company to prevent technology from being leaked overseas, said Ryu Jae Han, chief executive officer of Korea Finance Corp. Any investment in the chipmaker by a foreign company through a consortium with a Korean firm would have to be less than half the stake the group would acquire, Ryu said. Hynix Semiconductor rose 4.1 percent to 21,850 won.
KKB Engineering Bhd. (KKB) : The Malaysian engineering and construction group won a 19.4 million-ringgit ($6.4 million) contract to supply water pipes and pipe fittings to Kumpulan Bina Emas Sdn., according to a company statement. KKB lost 1.2 percent to 1.70 ringgit.
Li & Fung Ltd. (494) (494 HK): The company’s first-half profit fell 15 percent as higher costs squeezed margins at the world’s biggest supplier of toys, clothes and furniture to retailers. Net income declined to $236 million from $278 million a year earlier, the supplier of Wal-Mart Stores Inc., Toys “R” Us Inc. and Inditex SA’s Zara said in a statement to Hong Kong’s stock exchange. Li & Fung was unchanged at HK$12.
MTR Corp. (66) (66 HK): Hong Kong’s urban rail operator posted first-half underlying profit of HK$4.4 billion ($564 million), according to a statement to the Hong Kong stock exchange. That compares with the median HK$3.56 billion estimate of five analysts in a Bloomberg News survey. Net income for the six months ended June 30 was $HK8.1 billion, the statement said. The stock rose 4.5 percent to HK$24.60.
Utusan Melayu (Malaysia) Bhd. (UTUS MK): The Malaysian newspaper publisher’s net loss in the second quarter narrowed to 473,000 ringgit from 5.07 million ringgit a year earlier, according to a company statement. The shares gained 2.9 percent to 71.5 sen on Aug. 10.
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