Ain Parmaciez, Daiwa House, Tohoku: Japan Stock Preview
The following companies may have unusual price changes in Asian trading on June 4. 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.
Alco Holdings Ltd. (328) (328 HK): The audio-visual products maker said it expects a “significant decrease” in profit for the year ended March 31 from the previous year. The stock rose 0.8 percent to HK$2.62.
Ambuja Cements Ltd. (ACEM) : An Indian cement maker said sales rose 12 percent in May to 1.94 million tons from a year earlier. The shares declined 1.4 percent to 149.15 rupees.
Chugoku Electric Power Co. (9405) (9504 JT): The stock was raised to neutral from underperform by Norimasa Shinya, an analyst at Mizuho Securities. The 12-month target price is 1,200 yen per share, according to data compiled by Bloomberg. The stock sank 2.3 percent to 1,209 yen.
Fufeng Group Ltd. (546) (546 HK): The corn-based bio-chemical products maker said it expects net income for the six months ended June 30 to “decrease significantly” from a year earlier on lower selling price of its main product. The stock was unchanged at HK$2.85.
Hyundai Motor Co. (005380) (005380 KS): The company, South Korea’s biggest carmaker, sold 365,501 vehicles in May, up 8.1 percent from a year earlier, according to a regulatory filing. The shares dropped 2.5 percent to 238,000 won.
Hero MotoCorp Ltd. (HMCL) : India’s biggest motorcycle maker said sales climbed 11 percent in May to 556,644 units compared with a year earlier, the company said in an emailed statement. The shares fell 0.5 percent to 1,821.35 rupees.
Kwang Dong Pharmaceutical Co. (009290) (009290 KS): The company plans to buy back 1 million shares, according to a regulatory filing. The South Korean pharmaceutical company dropped 0.5 percent to 3,755 won.
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