Sands China Ltd. (1928 HK) and other casino stocks may be active after the Hong Kong-listed unit of Las Vegas Sands Corp. said Macau rejected its application to develop the final two land parcels in its expansion plan.
WHAT TO WATCH: * CSR Corp. (1766 HK), maker of rail rolling stock, holds news Conference at 11 a.m. * James McGregor speaks to American Chamber of Commerce lunch on China’s preferential treatment of domestic IP holders, 12 noon * Investors should bet on the dollar dropping against the yuan next year because of trade imbalances, Goldman Sachs says * Diesel demand growth in China may subside by February, expand 9 percent next year, JPMorgan says * Copper prices are being driven by non-demand factors, such as exchange traded funds, Minmetals’s Gu Liangmin says * Petroleo Brasileiro SA may list shares in Hong Kong next year as the Sao Paulo stock exchange pushes to expand trading of Brazilian companies in Asia, the Brazilian exchange says * Chinese state-owned oil companies sign crude, refining and gas agreements with Venezuela ECONOMY: Economic data today and events with estimates where relevant: * China non-manufacturing purchasing managers’ index for November, 9 a.m. * China HSBC Services PMI for November, 10:30 a.m. * Taiwan November foreign exchange reserves, 4:20 p.m. IPO PRICINGS: * Sateri (1768 HK), up to HK$4.6 billion * Auto Services Holdings (1728 HK), up to HK$4.3 billion MARKETS: * U.S. stocks advanced, giving the Dow Jones Industrial Average its biggest two-day rally since July, as purchases of existing homes unexpectedly jumped, retail sales topped analysts’ estimates and Goldman Sachs Group Inc. recommended buying financial shares. The S&P 500 rose 1.3 percent to 1,221.53 at 4 p.m. in New York after gaining 2.2 percent yesterday. The last time the measure posted two straight advances exceeding 1 percent was in February. The Dow gained 106.63 points, or 1 percent, to 11,362.41. Both gauges are up more than 3.2 percent in December. EQUITY MOVERS: Selected stocks that may rise or fall following news overnight: * Banks. Credit growth hasn’t slowed from 2009’s “rapid” pace, as reduced bank lending is offset by off-balance sheet loans, Fitch Ratings said in a report yesterday. * Textile manufacturers. South African wool producers are in talks to have China rescind a ban on their products * Beijing Capital Land (2868 HK) November sales rise 179 percent to 1.6 billion yuan * China Life (2628 HK) plans to inject 3 billion yuan into Guangdong Development Bank * China Nickel Resources signs a long-term supply agreement with Torm A/S, the Copenhagen-based company says * China Vanke (000002 CH) Property sales this year exceeded 100 billion yuan by Dec. 1 * GCL-Poly Energy (3800 HK) signs an agreement to supply 10 gigawatts of polycrystalline wafers to JA Solar (JASO US) * Hon Hai Precision (2317 TT) is increasing investment in China by more than $330 million, and will issue NT$12 billion of bonds *Jiangling Motors (000550 CH) November vehicle sales rise to 17,010 units from 10,900 units *Maoye International (848 HK) buys land for a shopping mall, offices and hotels in Taizhou, Jiangsu for 1.11 billion yuan *New Environmental will raise as much as HK$101 million through a placing of 202 million shares at 50 Hong Kong cents each *Regal Hotels (78 HK) will start consolidating earnings with Regal Real Estate Investment Trust (1881 HK) ANALYST RATINGS: * Wharf Holdings (4 HK) cut to “neutral” from “overweight” at HSBC * Citichamp Dartong (600067 CH) cut to “neutral” from “buy” at China Jianyin * Shenzhen Topway Video (002238 CH) cut to “buy” from “strong buy” at China Jianyin * Jiangxi Hongdu Aviation (600316 CH) cut to “neutral” from “buy” at China Jianyin * Shandong Shengli (000407 CH) cut to “neutral” from “buy” at China Jianyin CONFERENCES/CORPORATE PRESENTATIONS: * China Gold and Precious Metals Summit in Shanghai * Taiwan-European Conference in Taipei * Taiwan Semiconductor Manufacturing Corp. SCM Forum in Hsinchu GOVERNMENT: * European Investment Bank VP Magdalena Álvarez Arza press conference on funding China’s climate-change projects, 2 p.m. * Taiwan President Ma Ying-jeou meets Canadian human rights advocates William Black and Magda Seydegart * Taiwan Finance Minister Lee Sush-der inspection trip to Kaohsiung BLOOMBERG TV INTERVIEWS: * Paul Schulte, CCB International Securities, Global Strategist, 9:10 a.m. * Jeannie Cho Lee, Asian Palate, Wine Educator & Journalist, 9:40 a.m. * Lee Quane, ECA, Regional Director, 11:10 a.m. * Haywood Cheung, Chinese Gold and Silver, Executive Chairman, 11:40 a.m.