Chubu Electric, JSW Steel, Korea Electric, Sun TV: Asia Stocks Preview
The following companies may have unusual price changes in Asian trading on Feb. 13. 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.
Japanese brewers: Kirin Holdings Co. (2503) (2503 JT) and Sapporo Holdings Ltd. (2501) (2501 JT) each forecast a surge in earnings. Kirin, Japan’s largest brewer by market value, said net income will surge more than sixfold to 48 billion yen ($618 million) this year. Sapporo expects net income to soar 99 percent 6.3 billion yen. Kirin rose 1.9 percent to 967 yen, while Sapporo gained 0.7 percent to 294 yen.
Hong Kong developers: The city’s home prices for the week ended Feb. 5 rose 0.6 percent from the previous week, Centaline Property Agency said on its website. The Centa-City Leading Index, an indicator of housing prices in Hong Kong, increased to 95.04, it said.
Sun Hung Kai Properties Ltd. (16) (16 HK), the world’s biggest developer by market value, slid 0.4 percent to HK$109.70. Cheung Kong (Holdings) Ltd. (1 HK), controlled by billionaire Li Ka- shing, sank 0.4 percent to HK$104.80.
China Petroleum & Chemical Corp. (386 HK): The nation’s biggest refiner, known as Sinopec, agreed to raise oil imports from Saudi Arabia in its 2012 term contract, Reuters reported, citing unidentified Chinese industry officials. The stock slid 1.3 percent to HK$9.21.
Chubu Electric Power Co. (9502 JT): The utility signed a 16-year contract to buy as much as 8 million tons of liquefied natural gas from BP Singapore Pte., according to Chubu’s website. The stock rose 1.6 percent to 1,483 yen.
CapitaMalls Asia Ltd. (CMA) : The owner of shopping centers in Singapore, Japan, China, India and Malaysia said fourth-quarter profit sank 40 percent from a year earlier to S$205.4 million. The shares fell 2 percent to S$1.48.
Dai Nippon Printing Co. (7912) (7912 JT): The company said it cut its full-year net-income forecast 58 percent to 8 billion yen, as slumping demand for liquid-crystal displays hurt sales of its films. Shares rose 0.6 percent to 813 yen.
Dynasty Fine Wines Group Ltd. (828) (828 HK): The wine producer said it expects full-year profit to be “considerably lower” on lower sales revenue. The stock retreated 1 percent to HK$1.98.
Geely Automobile Holdings Ltd. (175) (175 HK): The automaker whose parent owns Swedish automaker Volvo Car Corp. said January sales volume fell 17 percent from a year earlier. The stock declined 0.4 percent to HK$2.80.
H2O Retailing Corp. (8242) (8242 JT): The operator of railway terminal department stores will raise as much as 11.3 billion yen by selling shares. The stock fell 1.2 percent to 579 yen.
Hyundai Steel Co. (004020) (004020 KS): South Korea’s second- biggest steelmaker forecast a 3.9 percent drop in sales this year after posting a decline in fourth-quarter profit on slowing demand for the metal used in cars and ships. The shares lost 0.9 percent to 116,500 won.
Isetan Mitsukoshi Holdings Ltd. (3099) (3099 JT): The department- store chain boosted its full-year operating-profit outlook 16 percent to 22 billion yen on expectations for rising sales. The stock gained 0.5 percent to 870 yen.
JSW Steel Ltd. (JSTL) : India’s third-biggest producer reported a group loss of 478.9 million rupees for the third quarter, hurt by a foreign exchange charge of 5.04 billion rupees. That missed a median estimate of a 1.84-billion rupee profit by 25 analysts in a Bloomberg News survey. Shares fell 0.6 percent to 816.75 rupees.
Korea Electric Power Corp. (KEP) (015760 KS): The country’s monopoly distributor posted a fourth-quarter loss as government price controls prevented it from passing on fuel costs to customers. The loss was 2 trillion won ($1.8 billion) in the three months ended Dec. 31 compared with a profit of 65 billion won a year earlier, according to a regulatory filing. The utility slipped 0.6 percent to 26,000 won.
Mimaki Engineering Co. (6638 JQ): The industrial printer maker said it will conduct a 200-for-1 stock split, boosting its minimum trading unit to 100 shares from one share. The stock advanced 3.6 percent to 63,000 yen.
Namco Bandai Holdings Inc. (7832) (7832 JT): The toymaker raised its full-year net-income forecast 23 percent to 18.5 billion yen, citing favorable domestic operations. Namco also said it will retire 3.48 percent of its outstanding shares on Feb. 22. The stock rose 0.7 percent to 1,099 yen.
Okato Holdings Inc. (8705) (8705 JQ): The trader of commodity futures said it will buy back as much as 7.13 percent of its total shares. The stock was unchanged at 187 yen.
Pacific Metals Co. (5541) (5541 JT): The ferronickel producer said net income plunged 95 percent to 598 million yen in the nine months ended Dec. 31 as sales dropped by almost half. Shares slipped 2.5 percent to 435 yen.
Shimadzu Corp. (7701) (7701 JT): The maker of precision tools cut its full-year net-income projection 15 percent to 8.5 billion yen, citing reversal of deferred tax assets. Nine-month operating profit for the period ended Dec. 31 jumped 52 percent to 9.85 billion yen on rising sales. The stock retreated 1.5 percent to 670 yen.
Sun TV Network Ltd. (SUNTV) : The Indian television channels provider reported third-quarter profit of 1.68 billion rupees. That missed the median estimate of 1.88 billion rupees by 15 analysts, according to a Bloomberg News survey. Shares climbed 3.3 percent to 340.8 rupees.
Tiger Airways Holdings Ltd. (TGR) : The budget carrier partly-owned by Singapore Airlines Ltd. (SIA SP) said it filled 75 percent of seats in January, compared with 82 percent a year earlier, as it transported 14 percent less passengers in the period. The stock climbed 3.9 percent to 79.5 Singapore cents.
Taiyo Yuden Co. (6976) (6976 JT): The electronic component maker said its loss widened to 12.5 billion yen from 2.1 billion yen a year earlier as sales dropped by 14 percent. Shares slumped 2.3 percent to 733 yen.
Tokyu Corp. (9005) (9005 JT): The railway operator said nine-month net income rose 35 percent to 31.1 billion yen. The stock was unchanged at 380 yen.
Zensho Co. (7550) (7550 JT): The restaurant chain said net income climbed 45 percent to 5.12 billion yen in the nine months ended Dec. 31 on higher revenue and the sale of shares in an affiliated company. The stock slipped 1 percent to 1,015 yen.
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