HTC, Nidec, Olympus, Posco, Samsung, Mitsui O.S.K.: Asian Stocks Preview
The following companies may have unusual price changes in Asian trading on Dec. 7. Stock symbols are in parentheses, and share prices (NKY) are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Country Garden Holdings Co. (2007) (2007 HK): The Guangdong-based developer said contracted sales for the January-November period rose 29 percent from a year earlier to about 39.4 billion yuan ($6.2 billion). The stock fell 4.6 percent to HK$2.90.
Dongfeng Motor Group Co. (489) (489 HK): The Chinese automaker will form a joint venture with Volvo AB in 2012, the Economic Observer reported, citing an unidentified person. Nissan Motor Co. will exit its joint venture with Dongfeng that makes medium- to-heavy duty trucks, it said. Dongfeng slid 0.2 percent to HK$12.42.
HTC Corp. (2498) (2498 TT): The smartphone maker said November sales fell 18 percent to NT$31 billion ($1 billion) from a year earlier, according to a statement filed to the Taiwan Stock Exchange. The stock advanced 2.1 percent to NT$458.
Mitsui O.S.K. Lines Ltd. (9104 JT): The owner of the world’s largest shipping fleet intends to form a pool of about 50 supertankers with A.P. Moeller-Maersk A/S, Samco Shipholding Pte. and Ocean Tankers (Pte) Holdings Ltd. according to a press release today. The crude-carrier pool is expected to become operational starting Feb. 1. The stock fell 3.4 percent to 259 yen.
Nidec Corp. (6594) (6594 JO): The world’s biggest maker of motors for hard-disk drives said two of the company’s subsidiaries, Nidec-Shimpo Corp. and Nidec-Kyori Corp., will merge on April. 1, 2012 to streamline the group business. The stock fell 0.6 percent to 7,000 yen.
Olympus Corp. (7733) (7733 JT): The Tokyo Stock Exchange put Olympus on investigation watch list for possible delisting today, suggesting the company is at risk of delisting even if it hands in earnings report before Dec. 14 deadline. The share price jumped 9.1 percent to 1,190 yen.
Oriental Land Co. (4661 JT): The operator of Tokyo Disney Resort will raise 2.4 billion yen ($31 million) by selling 300,600 treasury shares in private sales on Dec. 22 to purchase products for its theme parks, according to a statement to the Tokyo Stock Exchange. Shares dropped 0.8 percent to 7,980 yen.
Posco (005490) (005490 KS): The world’s biggest stainless-steel maker, has signed preliminary agreements to help develop nickel mines in Halmahera in Indonesia, Oh Chang Kwan, head of the South Korean company’s stainless steel division, told reporters. The shares fell 0.6 percent to 392,000 won.
Rock Field Co. (2910 JT): The delicatessen food producer posted the first-half unconsolidated net income of 586 million yen, 26 percent better than the same period a year earlier as sales of salad products grew. The stock lost 0.4 percent to 1,255 yen.
Samsung Electronics Co. (005930) (005930 KS): The world’s largest maker of mobile phones plans to build a semiconductor factory in China to meet demand for flash memory used in smartphones and tablet computers, the company said in a regulatory filing. The stock fell 2.1 percent to 1,044,000 won.
Sanix Inc. (4651) (4651 JT): The sanitation service provider said the sales on November was 13 percent better than a year earlier, marking sales growth for five consecutive months since July. The share price plunged 4.7 percent to 243 yen.
To contact the reporter on this story: Masaaki Iwamoto in Tokyo at email@example.com