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AU Optronics, Canon, Korea Zinc, Sesa Goa: Asia Equity 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 latest close. The information in each item was released after markets shut unless stated otherwise.

Banks: China will allow banks to sell bonds as a measure to boost loans to small firms, according to a statement posted on the China Banking Regulatory Commission’s website today.

Chinese banks’ total assets as of September climbed 16.6 percent from a year ago to 105.7 trillion yuan, the regulator said in another statement on its website. Total liabilities climbed 16.1 percent to 99 trillion yuan, it said.

Industrial & Commercial Bank of China (601398) Ltd. (601398 CH) rose 1.2 percent to 4.24 yuan. China Construction Bank Corp. (601939 CH) climbed 1.9 percent to 4.74 yuan.

Cement producers: China started building more than 9.86 million units of affordable homes as of the end of September, Xinhua News Agency reported today. Construction work on the full-year target of 10 million units will begin before the end of November, the report said.

Anhui Conch Cement Co. (600585 CH) added 2.7 percent to 19.15 yuan. Huaxin Cement Co. (600801 CH) gained 2.2 percent to 19.02 yuan.

Coal producers: China’s Guizhou province set the upper limit for pithead thermal coal prices at 550 yuan per metric ton, Xinhua News Agency reported, citing the local government. The province aims to raise power-station coal stockpiles to 6 million tons by Dec. 20 from 2.81 million tons as of the end of September, the report said.

China Shenhua Energy Co. (601088 CH) increased 2.7 percent to 26.03 yuan. Yanzhou Coal Mining Co. (600188 CH) climbed 4 percent to 26.18 yuan.

AU Optronics Corp. (2409) (2409 TT): Taiwan’s second-largest maker of liquid-crystal displays posted third-quarter loss of NT$15.8 billion ($525 million), the largest in 10 quarters, compared with a profit of NT$227 million a year earlier. The average of 18 analyst estimates compiled by Bloomberg News was for a loss of NT$5.55 billion. The stock gained 2 percent to NT$12.65.

Canon Inc. (7751) (7751 JT): The world’s largest camera maker cut its annual profit forecast, citing weakening economies and floods in Thailand that hurt production. Full year net income may be 230 billion yen ($3 billion) compared with a previous forecast for 260 billion yen, Canon said in a statement. The company also reduced its sales and operating profit forecasts. The stock lost 1.8 percent to 3,490 yen.

Clarion Co. (6796 JT): The car audio equipment maker’s net income in the six months ended Sept. 30 was about 1.7 billion yen, compared with its loss forecast of 200 million yen, on lower fixed costs, according to a preliminary earnings statement. The stock was unchanged at 133 yen.

Hitachi Chemical Co. (4217 JT): The maker of chemical products cut its full-year net income projection 26 percent to 17 billion yen. The stock declined 1.2 percent to 1,386 yen.

Hitachi Construction Machinery Co. (6305 JT): The world’s largest maker of giant excavators said first-half net income jumped 77 percent to 5.48 billion yen, citing growing demand for construction machinery in Asian countries excluding China. The stock climbed 2.7 percent to 1,433 yen.

Kao Corp. (4452) (4452 JT): The household products maker may consider acquiring European and U.S. companies involved in the beauty-care market, President Motoki Ozaki told reporters in Tokyo. Kao said first-half net income rose 10 percent to 30.7 billion yen. The result was less than the company’s estimate of 32 billion yen. The stock slipped 0.8 percent to 2,126 yen.

Korea Zinc Co. (010130 KS): Net income climbed to 186 billion won ($165 million) in the three months ended Sept. 30 from a revised 127.8 billion won a year earlier, according to a regulatory filing. South Korea’s biggest zinc smelter added 0.5 percent to 320,500 won.

Mitsui Engineering & Shipbuilding Co. (7003 JT): The ship engine maker’s first-half net income was 7 billion yen, beating its 5 billion yen outlook, according to a preliminary earnings statement. The stock dropped 1.6 percent to 125 yen.

Nidec Corp. (6594) (6594 JO): The world’s biggest maker of motors for hard-disk drives said operating profit in the six months ended Sept. 30 fell 24 percent to 39.5 billion yen. The result was 6.9 percent more than the company’s outlook of 37 billion yen. The stock declined 1 percent to 6,100 yen.

Nissan Motor Co. (7201 JT): The automaker aims to sell more cars in Europe than Toyota Motor Corp. (7203) (7203 JT) and Hyundai Motor Co. (005380 KS) by 2016, to become the largest Asian automaker in the region, the Financial Times Deutschland reported, citing an interview with Paul Wilcox, Nissan’s chief in Europe. Nissan slid 1 percent to 691 yen. Toyota dropped 1.7 percent to 2,536 yen.

Poletowin Pitcrew Holdings Inc. (3657 JT): The provider of video game testing services will start trading on the Tokyo Stock Exchange’s Mothers market. The initial offering price was 2,250 yen per share.

Samsung Electronics Co. (005930 KS): The company expects Thailand’s worst floods for 50 years to help boost demand for flash-memory drives, Hong Wan Hoon, head of Samsung’s memory sales and marketing team, told reporters. Asia’s biggest maker of chips, flat screens and mobile phones rose 0.4 percent to 945,000 won.

Sesa Goa Ltd. (SESA) : India’s biggest iron-ore exporter said profit plunged to 12.8 million rupees in the quarter ended September from 3.85 billion rupees a year earlier because of a drop in production. The company said Oct. 7 output in the three months was less than half of 2.88 million tons produced earlier because of a mining ban in the southern Karnataka state. The company had a foreign currency loss of 2.34 billion rupees in the quarter, verus a gain of 376.5 million rupees a year ago. The stock gained 1 percent to 211.2 rupees.

Takara Bio Inc. (4974) (4974 JT): The biopharmaceutical company’s net income in the six months ended Sept. 30 amounted to 223 million yen, beating its projection on lower costs for research, development and promotions, according to a preliminary earnings statement. The company had forecast 90 million yen profit in the period. The stock dropped 1.7 percent to 412 yen.

Takara Holdings Inc. (2531) (2531 JT): First-half net income at the maker of distilled spirits totaled 900 million yen, beating its outlook by 29 percent, according to a preliminary earnings statement. The stock slid 1.9 percent to 459 yen.

Tokyo Electric Power Co. (9501 JT): The utility known as Tepco will sell a 20 percent stake in Eurus Energy Holdings Corp. to Toyota Tsusho Corp. (8015) (8015 JT), according to a statement from the utility that didn’t give financial terms. Tokyo Electric currently owns 60 percent of the wind power firm with Toyota Tsusho holding the rest, according to Eurus Energy’s website. Tepco surged 11 percent to 315 yen. Toyota Tsusho slipped 1.9 percent to 1,288 yen.

Woori Investment & Securities Co. (005940 KS): Hyundai Heavy Industries Co. (009540 KS) is in talks with six financial institutions including Woori Investment and Daewoo Securities Co. (006800 KS) for an initial public offering of its crude refining unit. Woori fell 0.4 percent to 11,850 won, while Daewoo slipped 1.5 percent to 10,000 won.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net

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

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