The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.
The Hang Seng Index rose 0.4 percent to 21,257.39. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, gained 0.1 percent to 11,835.93.
Agricultural Bank of China Ltd. (1288 HK): The bank expects profit will exceed 100 billion yuan ($14.8 billion) in 2011, Reuters reported, citing an interview with Vice President Pan Gongsheng. The stock gained 1.3 percent to HK$3.79.
Air China Ltd. (753 HK): The world’s largest carrier by market value said it will buy four Boeing Co. 777-300ER planes for a “significant” discount to the $1.15 billion list price. The airline said it will take delivery of the aircraft in 2013 and 2014. The stock fell 0.9 percent to HK$9.33.
Cathay Pacific Airways Ltd. (293 HK): The Hong Kong-based airline said August passenger volume increased 9.7 percent to 2.42 million from a year earlier. The stock gained 1.7 percent to HK$21.45.
China Mobile Ltd. (941 HK): Former Vice Chairman Zhang Chunjiang was stripped of his Communist Party membership after a disciplinary committee investigation, Xinhua News Agency reported. Zhang’s offences, which included taking a financial gift, will now be handled by law-enforcement agencies, Xinhua said. The stock fell 1.2 percent to HK$76.50.
Cnooc Ltd. (883 HK), China Petroleum & Chemical Corp. (386 HK): The companies may offer at least $7 billion for Brazil oil assets and a stake in OGX Petroleo & Gas Participacoes SA, according to two people with knowledge of the matter. OGX, which is based in Rio de Janeiro and controlled by billionaire Eike Batista, may seek to sell an equity stake of less than 30 percent as well as oil blocks, one of the people said. Cnooc gained 3.2 percent to HK$14.14. Sinopec, as the Hong Kong listed unit of China Petrochemical Corp. is known, slid 0.3 percent to HK$6.31.
Cosco International Holdings Ltd. (517 HK): The shipping company said shareholders will vote Sept. 30 on a planned sale of as many as 949.9 million shares in developer Sino-Ocean Land Holdings Ltd. (3377 HK) for least HK$5.40 each. Cosco fell 0.7 percent to HK$4.41. Sino-Ocean dropped 1.7 percent to HK$5.37.
Far East Hotels & Entertainment Ltd. (37 HK): The hotel operator said non-executive director Duncan Chiu has been charged by the Commercial Crime Bureau of the Hong Kong Police Force. The stock was unchanged at 27 Hong Kong cents.
Geely Automobile Holdings Co. (175 HK): The automaker forecast its sales will rise to 2 million vehicles by 2015, boosted by technology transfer from its acquired Swedish premium-car unit Volvo Cars, the Hong Kong Economic Journal reported, citing Chief Executive Officer Gui Sheng Yue. Geely expects sales to reach 400,000 units this year, Gui said, according to the report. The stock jumped 5.7 percent to HK$2.97.
Hopson Development Holdings Ltd. (754 HK): The real-estate developer said it bought 40,901 square meters of residential land in Shanghai’s Pudong district for 1.45 billion yuan. The stock fell 1.5 percent to HK$9.13.
Lenovo Group Ltd. (992 HK): The maker of personal-computers is exploring the possibility of building a factory in western China to expand production capacity and reduce costs, Hong Kong-based Wen Wei Po reported today, citing people it didn’t name.
Separately, Chairman Liu Chuanzhi said it aims to develop smartphone applications in-house as it seeks to win market share from Apple Inc. The stock declined 0.4 percent to HK$4.61.
Minth Group Ltd. (425 HK): The Chinese auto parts maker said it started preparations to make parts and components for electric vehicles, agreeing to buy land in Jiaxing, Zhejiang province, for the project. The stock gained 3.6 percent to HK$13.10.
Powerlong Real Estate Holdings Ltd. (1238 HK): The developer said it will issue $200 million of 13.75 percent senior notes due 2015 to fund existing and new real-estate projects. HSBC Holdings Plc and Royal Bank of Scotland Plc will purchase the bonds. Powerlong fell 1.4 percent to HK$2.20.