Dai-ichi Life, GMA Network, Honda Motor, IDBI Bank: Asian Stocks 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.
Avichina Industry & Technology Co. (2357 HK): The aircraft manufacturer says Jingdezhen Helicopter to invest 20 million yuan in unmanned helicopter project. The shares climbed 2.6 percent to HK$3.60.
Cathay Pacific (293) (293 HK): Hong Kong’s largest carrier plans changes to flight maintenance after recent “incidents,” Radio Television Hong Kong reported today, citing Ivan Chu, the company’s chief operating officer. The shares were unchanged at HK$15.36.
Dai-ichi Life Insurance Co. (8750) (8750 JT): The insurer cut its net-income forecast by 46 percent to 20 billion yen ($262 million) for the year ending on March 31, citing a write-down of deferred tax assets. Shares fell 1.4 percent to 80,000 yen.
Daiwa Securities Group Inc. (8601) (8601 JT): Japan’s second- largest brokerage said it will cut 200 jobs overseas after posting a fourth-straight quarterly loss on lower commissions and trading income. Its loss totaled 21.6 billion yen for the three months ended Dec. 31, swinging from a profit of 1.2 billion yen a year earlier, according to a statement. The stock rose 0.7 percent to 274 yen.
GMA Network Inc. (GMA7) (GMA7 PM): Advertising revenue at the second-largest Philippine broadcaster slowed in January, President Felipe Gozon said. The stock increased 1.5 percent to 8 pesos.
Honda Motor Co. (7267) (7267 JT): Japan’s third-largest car maker cut its full-year profit forecast after Thailand’s worst floods in almost 70 years disrupted output. Honda cut its net-income forecast to a three-year low of 215 billion yen for the year to March, compared with a previous estimate of 230 billion yen, the company said in a statement. The shares fell 0.6 percent to 2,666 yen.
Mizuho Financial Group Inc. (8411) (8411 JT): Japan’s third- largest bank by market value posted an 80 percent drop to 16.3 billion yen in third-quarter profit from a year ago. The stock was unchanged at 115 yen.
Toshiba Corp. (6502) (6502 JT): The world’s second-largest maker of flash-memory chips reduced its profit forecast 54 percent, citing a stronger yen, floods in Thailand and concerns about European economies. Toshiba cut its net-income forecast to 65 billion yen for the year to March, from an earlier estimate of 140 billion yen. The stock slid 1.8 percent to 323 yen.
Mapletree Commercial Trus (MCT)t (MCT SP): The owner of office buildings and shopping malls in Singapore said third-quarter distributable income increased 30 percent from a year earlier to S$26.6 million ($21.2 million). The shares were unchanged at 86.5 Singapore cents.
SMRT Corp. (MRT) : Singapore’s biggest commuter train operator said third-quarter net income fell 14 percent to S$37 million. Rising energy and staff expenses as well as costs arising from disruptions to train services will dampen earnings in the next 12 months, it said. The stock lost 0.6 percent to S $1.74.
SIA Engineering Co. (SIE) : The aircraft maintenance unit of Singappore Airlines Ltd. (SIA SP) said third-quarter profit rose 5.3 percent from a year earlier to S$63.5 million. The shares gained 1.5 percent to S$3.47.
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