Agile Property, China Telecom, Sterlite: 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.

Agile Property Holdings Ltd. (3383) (3383 HK): The commercial and hotel properties developer said its contracted sales for May rose 18 percent from a year earlier to 2.4 billion yuan ($377 million). The stock gained 3.6 percent to HK$9.90.

China Telecom Corp. (728) (728 HK), China Communications Services Corp. (552) (552 HK): The companies will team up to expand operations in Brazil and Latin America, Xinhua News Agency reported, without saying where it obtained the information. China Telecom, the country’s biggest fixed-line carrier, was unchanged at HK$3.51. China Communications Services slid 0.5 percent to HK$3.84.

Olympus Corp. (7733) (7733 JT): The company fired the head of its South Korean unit, Bang Il Seok, this month after discovering he had forged documents, Osamu Kobayashi, a Tokyo-based spokesman, said by phone. The stock lost 0.5 percent to 1,238 yen.

Sterlite Industries (India) Ltd. (STLT) : India’s top copper producer scrapped a plan to raise at least 15 billion rupees ($269 million) selling bonds, according to a person familiar with the matter. The notes planned to offer investors a 10-year maturity, with put, call options at the end of the fifth year, the person said, asking not to be identified as the details are private. The stock rose 3 percent to 104.4 rupees.

Toyota Industries Corp. (6201) (6201 JT), Ibiden Co. (4062) (4062 JT): The companies will dissolve their TIBC Corp. venture, which makes chip-package substrates, they said in statements to the Tokyo Stock Exchange. Toyota Industries declined 1.6 percent to 2,113 yen. Ibiden fell 0.8 percent to 1,440 yen.

To contact the reporter on this story: Kana Nishizawa in Hong Kong at knishizawa5@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

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