China Coal, China Gas, Easyknit, HSBC: Hong Kong Stocks 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. The market was closed on yesterday for a holiday.

The Hang Seng Index (HSI) fell 4.2 percent to 19,030.54 on Sept. 12. The Hang Seng China Enterprises Index, which tracks so- called H shares of Chinese companies, declined 4.8 percent to 9,967.86.

China Coal Energy Co. (1898 HK): The mainland coal producer said its commercial coal production rose 17 percent in August from a year earlier. The stock declined 4.8 percent to HK$9.40.

China Gas Holdings Ltd. (384) (384 HK): The gas distributor said it won’t have future dealings with companies controlled by the director. The company said it had “difficulties” in retrieving records to check the details of connected transactions. The stock slid 3.5 percent to HK$2.45.

Easyknit International Holdings Ltd. (1218) (1218 HK), Easyknit Enterprises Holdings Ltd. (616) (616 HK): The companies said Easyknit International, a garments exporter, will make a buyout offer for Easyknit Enterprises valued at about HK$94.3 million ($12.1 million). The companies said they have made an application to resume trading today after being suspended from Sept. 6.

HSBC Holdings Plc (HSBA) (5 HK): Europe’s largest bank by market value is seeking to sell its general insurance business for about $1 billion as part of Chief Executive Officer Stuart Gulliver’s plan to divest some assets, the London-based Times reported. The stock sank 5.5 percent to HK$61.35.

Metallurgical Corporation of China Ltd. (1618 HK): The company, which engineers for metallurgical facilities, said Chairman Jing Tianliang and President Shen Heting were among the company’s directors and senior management who bought its A shares. The stock fell 3.9 percent to HK$1.96.

Shui On Land Ltd. (272) (272 HK): Chairman Vincent Lo said China’s property prices may fall in the next 12 to 18 months as banks curb loans to real-estate companies. The stock fell 4.7 percent to HK$2.65.

To contact the reporter on this story: Kana Nishizawa in Hong Kong at knishizawa5@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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