China Developers, Ingress, Olympus, Rusal: Asia Stock Preview

The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise.

Chinese Developers: At least two Chinese banks increased interest rates on mortgages for first homes. China Construction Bank Corp., the nation’s second-biggest by market value, raised rates in Beijing to 1.05 times the central bank’s benchmark lending rate, a press officer said yesterday. China Everbright Co. raised its first-home mortgage rate in Shanghai to the same level, a press officer said.

China Vanke Co. (000002 CH), the nation’s biggest developer, dropped 0.1 percent to 7.34 yuan in Shenzhen. Poly Real Estate Group Co. (600048 CH) closed unchanged at 9.30 yuan in Shanghai. Soho China Ltd. (410 HK), the biggest developer in Beijing’s central business district, advanced 4.9 percent to HK$5.33 in Hong Kong.

Japanese mobile-phone companies: NTT DoCoMo Inc.(9437 JT), Japan’s largest mobile-phone operator by market value, will announce a plan today to cut smartphone data fees by 20 percent to compete with rivals Softbank Corp (9984 JT) and KDDI Corp. (9433 JT), the Sankei newspaper reported, without saying where it got the information.

Separately, NTT DoCoMo will raise its smartphone sales forecast for the current fiscal year to more than 8 million handsets from 6 million handsets, the Nikkei newspaper said without citing anyone.

NTT DoCoMo rose 0.4 percent to 139,700 yen. Softbank gained 2.9 percent to 2,550 yen, and KDDI dropped 0.3 percent to 583,000 yen.

Accordia Golf Co. (2131 JT): The owner and manager of golf courses and country clubs said net income was 8.4 billion yen ($108.8 million) compared with a forecast of 2.2 billion yen for the period ended Sept. 30, according to a preliminary earnings statement to the Tokyo Stock Exchange. Accordia cited recovering sentiment among golfers after the March earthquake. The stock fell 0.5 percent to 54,800 yen.

Angang Steel Co. (347 HK): The mainland Chinese steelmaker cut cold-rolled and hot-rolled steel product prices from between 150 ($23.60) and 300 yuan a metric ton for November delivery, researcher Custeel.com said on its website. The share slid 2.5 percent to HK$5.10.

Carsales.com (CRZ AU): Stock was cut to “underperform” from “buy” at BBY Ltd. BBY’s 12-month target price is A$4.99 per share. The shares climbed 0.8 percent to A$5.09.

Cochlear Ltd. (COH AU): The recall of Cohclear’s N5 ear implants may cost about A$100 million ($103 million), UBS AG health-care analysts said in a report [NSN ]. The shares rose 1.4 percent to A$54.50.

Furukawa Electric Co. (5801 JT): The company agreed to acquire SuperPower Inc., a subsidiary of Royal Philips Electronics NV, for an undisclosed amount, according to a statement to the Tokyo Stock Exchange. Shares rose 1.5 percent to 209 yen.

Heiwa Corp. (6412) (6412 JT): The producer of pachinko machines said net income for the six months ended Sept. 30 was 13.5 billion yen, compared with a forecast of 10.3 billion yen, according to a preliminary earnings statement to the Tokyo Stock Exchange. Better-than-expected sales and cost-cutting measures drove profit, the company said. The stock gained 2.1 percent to 1,389 yen.

House Foods Corp. (2810) (2810 JT): The food producer said its net income for the six-month period ended Sept. 30 was 4.8 billion yen compared with a forecast of 3.8 billion yen, citing a rebound in home cooking after the March earthquake, according to a preliminary earnings statement to the Tokyo Stock Exchange. Shares climbed 1.1 percent to 1,442 yen.

Ingress Corp. (INGC MK): The Malaysian supplier of auto- parts to Honda Motor Co. said its Thai factory was hit by floodwater. The factory is insured and hasn’t yet been able to assess the damage and recovery time, it said in a statement. The shares were unchanged at 79.5 sen.

Kweichow Moutai Co. (600519 CH), China’s biggest white- liquor maker, said net income rose 55 percent to 1.66 billion yuan in the third quarter from a year earlier, in a statement to the Shanghai Stock Exchange yesterday. The stock added 3 percent to 197.14 yuan.

Leader Universal Holdings Bhd. (LUH) : The Malaysian cable and wire maker received a buyout offer valued at 480.1 million ringgit ($154.7 million), or 1.10 ringgit a share, from HNG Capital Sdn., according to a company statement. Leader last traded at 84 sen on Oct. 14. It was suspended on Oct. 17.

MindTree Ltd. (MTCL) : The Indian software maker posted second-quarter profit of 545 million rupees, beating the 330 million rupees estimated by analysts in a Bloomberg survey. Shares advanced 1.3 percent to 385 rupees.

Olympus Corp. (7733 JT): Former Olympus President Michael C. Woodford asked U.K. prosecutors to investigate payments made by the Japanese company to advisers in a 2008 acquisition.

Woodford met with the U.K. Serious Fraud Office, which investigates corruption, and gave officials documents including a PricewaterhouseCoopers report that he commissioned, he said yesterday. He met with the SFO’s intelligence officers, who will decide whether to proceed with an investigation, a person familiar with the meeting said.

The stock slumped 24 percent to 1,555 yen.

United Co. Rusal (486 HK): Russia’s aluminum producer will study the “opportunity” of Rio Tinto Group’s plan to sell 13 aluminum assets, Deputy Chief Executive Officer for Strategy Maxim Sokov said in an interview in Moscow. The stock rose 3 percent to HK$7.27.

Samsung Life Insurance Co. (032830 KS): Units of CJ Corp., Samsung Life’s fourth-largest shareholder according to data compiled by Bloomberg, are selling 4 million shares in the South Korean life insurer for as much as 349.2 billion won ($306 million), according to terms for the deal obtained by Bloomberg News. Samsung Life, a South Korean life insurer, fell 1.1 percent to 90,000 won.

Tata Consultancy Services Ltd. (TCS) : Commercial Bank of Qatar said it signed an agreement with Tata Consultancy, India’s largest software services provider, to outsource of a number of the backoffice processing and information technology services. The agreement is for five years, the bank said in a statement distributed via the Regulatory News Service today. TCS’ stock slid 1.2 percent to 1,120.25 rupees.

Toenec Corp. (1946) (1946 JT): The building contractor said its net income plunged to 10 million yen compared with a forecast of 200 million yen for the six months ended Sept. 30, citing a drop in capital investment due to halted operations at Hamaoka atomic plant and the March earthquake, according to a preliminary earnings statement to the Tokyo Stock Exchange. The stock fell 1.8 percent to 426 yen.

Torii Pharmaceutical Co. (4551 JT): The company, which is 53 percent owned by Japan Tobacco Inc., said net income rose to 900 million in the six months through September on an unconsolidated basis, beating a forecast of 700 million yen. It cited lower-than-expected costs for sales and management for the advance, according to a preliminary earnings statement to the Tokyo Stock Exchange. Shares rose 0.8 percent to 1,517 yen.

To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

To contact the editors responsible for this story: Ravil Shirodkar at rshirodkar@bloomberg.net; Nick Gentle at ngentle2@bloomberg.net

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