Chow Sang Sang, Intime, Li & Fung: 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.
The Hang Seng Index (HSI) rose 3.1 percent to 17,707.01 on Oct. 7. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, gained 3.7 percent to 8,887.53.
Developers: Hong Kong home prices rose 0.59 percent in the seven days ended Oct. 2 from a week earlier, according to Centaline Property Agency Ltd. The Centa-City Leading Index, an indicator of housing prices in the city, climbed to 99.8, it said.
Sun Hung Kai Properties Ltd. (16) (16 HK), the world’s biggest developer by market value, gained 1.8 percent to HK$93.95.
Oil refiners: Ex-factory gasoline and diesel prices were both reduced by 300 yuan ($47.20) a metric ton, the National Development and Reform Commission said.
PetroChina Co. (857 HK), the nation’s largest oil producer by market value, rose 0.1 percent to HK$9.31.
China Petroleum & Chemical Corp. (386) (386 HK), a refiner known as Sinopec, fell 1.8 percent to HK$7.49. Its parent China Petrochemical Corp. agreed to buy Daylight Energy Ltd. for about C$2.2 billion ($2.11 billion) in cash to add oil and gas assets in Canada, the Calgary, Alberta-based company said.
China Metal International Holdings Inc. (319) (319 HK): The provider of customized metal castings said Chairman Ho Ming- Shiann has resigned following his conviction by a Taiwan court in a breach-of-trust case unrelated to the company. The stock lost 2.9 percent to HK$1.32.
Chow Sang Sang Holdings International Ltd. (116) (116 HK): The gold and gem-set jewelry retailer’s National Day break sales surged more than 50 percent from last year due to a drop in gold prices, according to Dennis Lau, director of sales operations. The stock gained 9.9 percent to HK$18.44.
Intime Department Store Group Co. (1833 HK): The department-store-chain operator said same-store sales grew 28 percent to 7.2 billion yuan in the nine months to Sept. 30. The stock gained 7.6 percent to HK$9.25.
Li & Fung Ltd. (494) (494 HK): Chief Executive Officer Bruce Rockowitz bought 1 million company shares at an average of HK$11.637 on Oct. 4, according to a Hong Kong stock exchange disclosure. The stock rose 7.6 percent to HK$13.
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