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BYD Co., Orient Overseas, PICC: Hong Kong Stocks Preview

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Jan. 26 (Bloomberg) -- The following companies may have significant price changes. Stock symbols are in parentheses. Share prices are as of the last close.

The Hang Seng Index advanced 0.2 percent to 23,843.24. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, gained 0.7 percent to 12,649.97.

BYD Co. (1211 HK): Wang Chuanfu, chairman of BYD, the Chinese automaker backed by Warren Buffett, said China will become the world’s biggest market for electric cars as the government seeks to limit the country’s dependence on foreign oil, the BBC reported, citing an interview. BYD slid 2.7 percent to HK$38.

Orient Overseas International Ltd. (316 HK): The Hong Kong-based container line said fourth-quarter sales at unit Orient Overseas Container Line rose 42 percent to $1.52 billion from a year earlier. The stock dropped 1.1 percent to HK$78.80.

PICC Property and Casualty Co. (2328 HK): China’s biggest non-life insurer said an audit by China’s National Audit Office revealed some branches violated laws and regulations “in the forms of false expenses, false premium increase and false claim settlement cases,” according to a statement to the Hong Kong stock exchange. The problems have “no significant impact” on the company’s financial statements or operating results, the statement said. The stock fell 0.8 percent to HK$10.10.

To contact the reporter on this story: Hanny Wan in Hong Kong at hwan3@bloomberg.net

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

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