Aeon, Kyushu Electric, Olympus Corp.: Japan Stock 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.
Casino stocks listed in Hong Kong: Macau’s 2012 casino revenue is expected to grow at a low double-digit rate or high single-digit pace this year, Macao Daily News reported, citing Francis Tam, the city’s secretary for economy and finance.
Galaxy Entertainment Group Ltd. (27) (27 HK), an operator of casinos in Macau, dropped 4.1 percent to HK$17.98. Wynn Macau Ltd. (1128) (1128 HK), a unit of the casino operator founded by billionaire Steve Wynn, sank 4.3 percent to HK $21.15.
Aeon Credit Service Co. (8570) (8570 JT): The credit-card company said it will buy back as much as 8.93 percent of its outstanding shares from March 7 through March 6, 2013. The stock rose 0.3 percent to 1,222 yen.
Astrazeneca Pharma India Ltd. (ASTR) : AstraZeneca Plc may delist the Indian unit from the local market or sell at least a 15 percent stake in the business, Sarah Lindgreen, a company spokeswoman, said in a phone interview. No deadline has been set for making a decision on the unit, she said. Shares added 0.5 percent to 2,099.05 rupees.
China Life Insurance Co. (2628) (2628 HK): The nation’s biggest insurer said net profit for the year 2011 may drop as much as 50 percent from a year earlier on lower investment yields and higher impairment losses. The stock fell 3.7 percent to HK$22.15.
East Japan Railway Co. (9020) (9020 JT): The nation’s largest railway operator said it plans to spend 96.2 billion yen ($1.18 billion) to protect its facilities against earthquakes. The stock fell 0.2 percent to 5,370 yen.
Glorious Property Holdings Ltd. (845) (845 HK): The Hong Kong- based developer that gets all its revenue on mainland China said property sales in February rose 49 percent to 622 million yuan ($99 million) from the previous month. The stock declined 2 percent to HK$1.50.
HTC Corp. (2498) (2498 TT): The company, Asia’s second-largest smartphone maker, said February sales fell 40 percent to NT$18.6 billion ($629 million) from a year earlier, according to a statement to Taiwan’s stock exchange. The stock retreated 2.1 percent to NT$618.
Industrial & Commercial Bank of China Ltd. (1398 HK): Goldman Sachs Group Inc. has the right to sell its shares in the Chinese lender because a lock-up period has ended, Yang Kaisheng, president of ICBC, said at a news conference in Beijing. ICBC, the world’s largest bank by market value, fell 3.8 percent to HK$5.26.
Kyushu Electric Power Co. (9508) (9508 JT): The utility halted a unit at its Shin-Kokura thermal plant in Fukuoka prefecture after a malfunction, Kyodo News reported, citing the company. The stock rose 1.4 percent to 1,244 yen.
Olympus Corp. (7733) (7733 JT): Japan’s securities watchdog accused three former executives and the company itself of falsifying financial reports, the Securities and Exchange Surveillance Commission said. The optics maker rose 3.5 percent to 1,300 yen.
Sembcorp Marine Ltd. (SMM) : The world’s second-largest builder of oil rigs said its Sembawang Shipyard unit agreed to buy a 20 percent stake in Ecospec Global Technology Pte, a supplier of water treatment and corrosion control chemicals, for $10 million. Sembcorp Marine slumped 6.3 percent to S$5.06.
To contact the editor responsible for this story: Nick Gentle at email@example.com