June 23 (Bloomberg) -- 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 was little changed at 21,859.97. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, was also little changed at 12,148.94.
Banks: The People’s Bank of China will suspend a sale of bills today, the central bank said in a statement posted on its website yesterday, without providing a reason for the suspension. The seven-day repurchase rate, which measures interbank funding availability, has more than doubled since June 14, when the People’s Bank of China ordered lenders to set aside more money as reserves for a sixth time this year.
Industrial and Commercial Bank of China Ltd. (1398 HK), the world’s largest lender by market value, fell 0.7 percent to HK$5.80. Agricultural Bank of China Ltd. (1288 HK) lost 2.3 percent to HK$3.85.
Developers: The Beijing government will support the sale of 50 billion yuan ($7.7 billion) of corporate bonds by property developers to fund the construction of affordable housing, Securities Times reported yesterday, citing Zhang Guilin, president of Beijing Zhuzong Group Co.
China Resources Land Ltd. (1109 HK), a state-controlled developer, increased 0.2 percent to HK$12.62. China Overseas Land & Investment Ltd. (688 HK), which receives nearly all its revenue from China, gained 1.6 percent to HK$15.74.
China Railway Construction Corp. (1186 HK): The company said its board has agreed to set up a unit that will engage in the construction of ports, waterways, roads and bridges. The stock lost 2.3 percent to HK$6.33.
Dongfang Electric Corp. (1072 HK): The company’s controlling shareholder bought 5.6 million shares between Dec. 1 and June 22, increasing its stake to more than 50 percent. The stock rose 1.7 percent to HK$27.65.
Great Wall Motor Co. (2333 HK): The company said the Court of Turin has prohibited the carmaker from selling its “Peri” brand automobiles in the European Union. The shares advanced 5.5 percent to HK$11.92.
Henderson Land Development Co. (12 HK): The builder controlled by tycoon Lee Shau-kee secured a HK$10 billion ($1.3 billion) loan facility from a syndicate of banks. The stock fell 0.5 percent to HK$47.
Hong Kong Exchanges & Clearing Ltd. (388 HK): The stock exchange operator is considering letting investors subscribe for yuan-denominated initial public share sales using Hong Kong dollars. Also, Chinese companies in Hong Kong are less likely to fool investors than those in the U.S. because the city’s bourse does more to prevent fraud, said Charles Li, chief executive officer of the bourse. Shares climbed 0.1 percent to HK$161.60.
Kith Holdings Ltd. (1201 HK): The maker of packing products plans a spinoff listing of its unit Megalogic Technology Holdings Ltd. in Hong Kong. The stock was unchanged at HK$1.45.
Sihuan Pharmaceutical Holdings Group Ltd. (460 HK): The maker of cardio-cerebral vascular drugs in China agreed to buy three drugmakers in China for 775 million yuan to broaden its product lines and sales network. The stock climbed 0.3 percent to HK$3.64.
West China Cement Ltd. (2233 HK): The cement producer said its subsidiary Yaobai has started a joint venture with Yangshanzhuang Cement to make and sell the building material in China. West China Cement gained 2.9 percent to HK$2.81.
ZTE Corp. (763 HK): The mobile-phone equipment developer will invest more than $150 million in its cloud-computing services unit next year, the South China Morning Post said. The stock increased 1.3 percent to HK$27.75.
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