Bridgestone, Jiangxi Copper, Mazda, TSMC: 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.
Bridgestone Corp. (5108) (5108 JT): The world’s biggest tiremaker will spend about 50 billion yen ($616 million) to build a Thai plant to make tires for construction and mining vehicles, according to a statement on its website. The stock fell 0.4 percent to 1,945 yen.
China Overseas Land & Investment Ltd. (688) (688 HK): The state- owned builder is studying plans to invest in overseas property markets through its parent, Chairman Kong Qingping said in Beijing. The stock fell 0.5 percent to HK$15.78.
Indraprastha Gas Ltd. (IGL) : The Indian retailer of compressed natural gas raised prices by 1.7 rupees per kilogram in New Delhi and by 1.9 rupees per kilogram in neighboring Noida, Greater Noida and Ghaziabad, according to an e-mailed statement. Shares slid 0.2 percent to 360.45 rupees.
Jiangxi Copper Co. (358) (358 HK): China’s largest producer of the metal is seeking domestic acquisitions, Chairman Li Yihuang said at meetings of the National People’s Congress in Beijing. The company plans to expand its rare-earth business, Li also said. The stock fell 4.1 percent to HK$20.15.
Kyocera Corp. (6971) (6971 JT) and Softbank Corp. (9984) (9984 JT): Kyocera and a Softbank unit won a contract to build and operate a 4.2-megawatt mega-solar power plant in Japan’s Kyoto city. The companies plan to begin operations at the plant by July, according to a statement on Kyocera’s website. Kyocera lost 2.7 percent to 7,130 yen. Softbank slid 0.9 percent to 2,432 yen.
Mazda Motor Corp. (7261) (7261 JT): Japan’s most unprofitable major carmaker will raise as much as 151.2 billion yen in a record share sale to replenish capital as it braces for its biggest annual loss in 11 years. Mazda will sell as many as 1.22 billion new shares, almost 70 percent of its outstanding stock, at 124 yen apiece, the company said in a statement. The stock added 0.8 percent to 128 yen.
Mochida Pharmaceutical Co. (4534) (4534 JT): The drugmaker said it will retire 2.94 percent of its outstanding shares on March 22. The stock rose 0.2 percent to 943 yen.
Taiwan Semiconductor Manufacturing Co. (2330) (2330 TT): Chairman and Chief Executive Officer Morris Chang said he may appoint more than one CEO after he relinquishes the post at the world’s largest custom-chip maker. Chang said at a March 5 briefing he may step down as CEO by June 2014 while remaining chairman. Taiwan Semiconductor lost 0.5 percent to NT$78.90.
To contact the reporter on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com