Domino’s, Hynix, Manila Electric, Taiwan Pulp: Asia Ex-Japan Stock 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.

Domino’s Pizza Enterprises Ltd. (DMP) : The stock was cut to “hold” from “buy” with a 12-month share price estimate at A$7.20 by Raymond Gonzalez, an analyst at Deutsche Bank AG. The stock increased 1.8 percent to A$7.18.

Hynix Semiconductor Inc. (000660) (000660 KS): Shareholders of the South Korean computer-memory chip-maker will extend due diligence by one week after STX Group, one of the two bidders, asked for more time, Korea Exchange Bank (004940) (004940 KS) said in an e-mailed statement. STX and SK Telecom Co. (017670 KS) were scheduled to complete the due diligence Sept. 2.

Hynix fell 0.5 percent to 19,100 won. Korea Exchange declined 1.7 percent to 7,930 won. STX Corp. (011810 KS) lost 2.1 percent to 16,100 won. SK Telecom decreased 0.3 percent to 151,000 won.

Manila Electric Co. (MER) : The largest Philippine power retailer said it may cut its budget for capital spending from July this year until June 2015 to 37.2 billion pesos from the planned 45 billion pesos due to a lower “annual revenue requirement” approved by the energy regulator. The stock increased 1.2 percent to 265 pesos.

Shang Properties Inc. (SHNG) : The property arm of the Kuok Group in the Philippines will spend at least 12 billion pesos for a retail expansion and residential project in the nation’s Ortigas Center business district, a stock-exchange filing showed. The stock was unchanged at 1.92 pesos.

Taiwan Pulp & Paper Corp. (1902) (1902 TT): The company plans to buy back 10 million common shares, or 2.59 percent of total outstanding shares, a stock-exchange filing showed. The company plans to buy back shares at between NT$9.50 and NT$15.50 each from Sept. 5 to Nov. 4, 2011, it said. The stock declined 0.9 percent to NT$11.05.

White Energy Co. (WEC AU): The Australian developer of coal technologies posted a full-year A$18.8 million ($19.9 million) loss, compared with a loss of $A35.8 million a year earlier, a stock-exchange filing showed. The stock fell 5.8 percent to A$1.885.

Zhongda International Holdings Ltd. (909) (909 HK): The Chinese manufacturer of automobile equipment suspended the duties of two executive directors because they didn’t make a fund transfer of 150 million yuan for the company, according to a statement to the Hong Kong stock exchange. The suspension won’t have an “adverse effect” to the company’s operation, it said. The stock fell 4.5 percent to 42.5 Hong Kong cents.

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

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

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