Anhui Conch, China Life, Evergrande: Hong Kong Equities Preview
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.
Banks: China’s banking regulator may require the nation’s systemically important banks to have a minimum capital adequacy ratio of 11.5 percent by the end of 2013, the Shanghai Securities News reported today, citing draft rules from the China Banking Regulatory Commission.
Industrial & Commercial Bank of China (601398) Ltd. (1398 HK), the nation’s biggest lender by market value, gained 4.9 percent to HK$5.13. China Construction Bank Corp. (939) (939 HK), the second- largest, rose 4.9 percent to HK$5.54.
Property developers: Property sales in 18 of 35 Chinese cities surveyed fell last week, according to Soufun Holdings Ltd., a real estate website owner.
China Resources Land Ltd. (1109) (1109 HK), a state-controlled developer, rose 3.2 percent to HK$13.66. China Overseas Land & Investment Ltd. (688) (688 HK), controlled by the nation’s construction ministry, gained 2.1 percent to HK$16.80.
Anhui Conch Cement Co. (914 HK): The nation’s largest cement producer said first-half net income more than tripled to 6 billion yuan ($939 million) from a year earlier. The shares surged 7.3 percent to HK$35.10.
China Coal Energy Co. (1898 HK): The coal producer said commercial coal production volume in July rose 11 percent to 8.59 million metric tons from a year earlier. The stock gained 4.1 percent to HK$9.36.
China Life Insurance Co. (2628 HK): The nation’s biggest insurer by market value said premium income for the seven months ended July 31 was 215.3 billion yuan. The stock gained 6.1 percent to HK$23.55.
Evergrande Real Estate Group Ltd. (3333) (3333 HK): The Guangzhou- based developer said net income for the first six months of 2011 may have a “significant increase” from a year earlier. The stock gained 2.7 percent to HK$4.89.
Greenfield Chemical Holdings Ltd. (582) (582 HK): The maker of liquid coatings said it expects a “considerable” reduction in first-half profit in part due to rising debt-financing costs. The stock was unchanged at HK$1.60.
Haier Electronics Group Co. (1169 HK): The maker of washing machines and water heaters said its first-half revenue and profit are expected to have “substantial increases” from a year earlier. The stock rose 2.1 percent to HK$8.85.
Semiconductor Manufacturing International Corp. (981) (981 HK): China’s biggest chipmaker by market value said Chief Operating Officer Simon Yang resigned. The stock sank 4.1 percent to 35.5 Hong Kong cents.
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