China Coal, Dai-Ichi Life, NTN, Tata Motors: Asia 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.
China Coal Energy Co. (1898) (1898 HK): The nation’s second- largest coal producer said coal sales volume for April rose 2.1 percent from a year earlier. The stock increased 1.8 percent to HK$8.12.
Dai-Ichi Life Insurance Co. (8750) (8750 JT): The insurer forecast net income will rise 23 percent to 25 billion yen ($313 million) in the year ending March 31. The stock slumped 2.5 percent to 85,900 yen.
Denki Kagaku Kogyo K.K. (4061 JT), Nippon Carbide Industries Co. (4064 JT): Denki Kagaku will acquire a 5 percent stake in Nippon Carbide for 516 million yen, the chemical products makers said in a statement. Denki Kagaku lost 1 percent to 290 yen. Nippon Carbide gained 3.8 percent to 110 yen.
Mizuho Financial Group Inc. (8411) (8411 JT): Japan’s third- biggest bank by market value unexpectedly forecast profit will rise 3.2 percent to 500 billion yen in the year ending March 31 as lending rebounds. The net income projection beat the 378 billion yen estimate from analysts surveyed by Bloomberg. The stock slid 0.9 percent to 114 yen.
NTN Corp. (6472) (6472 JT): The bearing maker said profit plunged 58 percent to 6 billion yen in the year ended March 31, dragged down by losses on securities investments. The company expects an 84 percent jump in profit to 11 billion yen this fiscal year. The stock lost 2.5 percent to 275 yen.
PICC Property & Casualty Co. (2328) (2328 HK): China’s biggest non-life insurer said direct premium income for the four months ended April 30 was 65.1 billion yuan ($10.3 billion). The stock rose 1.9 percent to HK$9.66.
Singapore Airlines Ltd. (SIA) : Asia’s second-largest carrier by market value said its filled 79.7 percent of seats last month, compared with 74.6 percent a year ago, as it carried more passengers. The shares added 0.5 percent to S$10.28.
Sanrio Co. (8136) (8136 JT): The maker of Hello Kitty products said profit will fall 15 percent to 12.2 billion yen in the year ending March 31. The stock slipped 0.6 percent to 3,195 yen.
Sawai Pharmaceutical Co. (4555) (4555 JT): The producer of generic drugs expects profit to rise 14 percent to 10.3 billion yen in the year started April 1. The stock rose 1.6 percent to 8,250 yen.
SMC Corp. (6273) (6273 JT): The maker of directional-control devices said profit rose 24 percent to 59.3 billion yen in the year ended March 31, citing growing sales and smaller foreign exchange losses. The stock slid 0.3 percent to 13,190 yen.
Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT): Japan’s second-biggest lender by market value said it expects a 7.4 percent drop in net income to 480 billion yen, beating the 441 billion yen estimate from analysts polled by Bloomberg. The stock dropped 1.2 percent to 2,350 yen.
Tata Motors Ltd. (TTMT) : India’s biggest automaker reported group global wholesales of 87,377 vehicles for April, little changed over last year, the company said in an e-mail. Sales of luxury brands Jaguar Land Rover rose 29 percent to 25,143 units. Shares slid 0.1 percent to 290.35 rupees.
T&D Holdings Inc. (8795) (8795 JT): The life insurer expects a 35 percent rise in profit to 36 billion yen in the year ending March 31. The stock added 0.1 percent to 783 yen.
Taiheiyo Cement Corp. (5233) (5233 JT): The cement maker posted 7.9 billion yen of profit in the year ended March 31, missing its forecast by 31 percent. The company says net income will rise 28 percent to 10 billion yen this fiscal year. The stock fell 0.6 percent to 168 yen.
TonenGeneral Sekiyu K.K. (5012) (5012 JT): The refiner owned by Exxon Mobil Corp. (XOM US) raised its profit forecast by a third to 40 billion yen, citing higher-than-expected prices for oil and related products. The stock gained 0.8 percent to 723 yen.
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
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