The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses and share prices are from the previous close, unless noted otherwise.
Philippine banks: The nation’s central bank ordered lenders to set aside more money as reserves for a second consecutive meeting, raising the reserve requirement ratio by 1 percentage point while keeping its benchmark interest rate unchanged.
Banco de Oro Unibank Inc. (BDO PM), the nation’s biggest lender by assets, increased 0.7 percent to 63.70 pesos. Metropolitan Bank & Trust Co. (MBT PM), the second-largest Philippine bank, gained 0.2 percent to 77.10 pesos.
China Steel Corp. (2002 TT): Taiwan’s largest maker of the metal was raised to “add” from “neutral” with a six-month share price estimate at NT$35 by Kevin Lin, analyst at Fubon Securities. The stock decreased 0.7 percent to NT$29.90.
Concrete Engineering Products Bhd. (CEP MK): The Malaysian building materials supplier had a profit of 6.24 million ringgit ($2.12 million) in the third quarter ended May 31 compared with a loss of 197,000 ringgit a year earlier, according to a company statement. The stock last traded at 2.14 ringgit on July 26.
Hyundai Steel Co. (004020 KS): South Korea’s second-biggest steelmaker more than doubled second-quarter profit to 333.8 billion won ($317 million) in the three months ended June 30 from a revised 130.3 billion won a year earlier, after raising prices and increasing output of steel used in automaking and shipbuilding, according to the Incheon-based company. Sales rose 49 percent to a record 4.05 trillion won, it said. The stock sank 1.5 percent to 133,000 won.
Kia Motors Corp. (000270 KS): Union officials representing workers at South Korea’s second-biggest carmaker will continue negotiations with the company after a majority of employees yesterday rejected a wage pact. Workers at the Seoul-based company will consider whether or not to strike after the summer vacation period that lasts from July 30 to Aug. 7, according to a statement from the Kia Motors Workers’ Union. The stock fell 2.4 percent to 77,500 won.
Medusa Mining Ltd. (MML AU): The Australian gold explorer and miner reported June-quarter production of 25,233 ounces. The stock declined 2.7 percent to A$7.34.
Philex Mining Corp. (PX PM): The largest Philippine metals producer’s stock rating was cut to “inline” from “outperform” with a 12-month share price estimate at 25.50 pesos by Subramaniam Varada, an analyst at Standard Chartered Bank. The stock gained 2 percent to 25.50 pesos.
PT Astra International (ASII IJ): Indonesia’s biggest automotive retailer’s first-half net income increased to 8.59 trillion rupiah ($1 billion) from 6.44 trillion rupiah a year earlier, the company said in a statement to the stock exchange. Astra declined 4.3 percent to 71,750 rupiah.
PT Bank Central Asia (BBCA IJ): The Indonesian lender’s first-half net income rose 20 percent to 4.8 trillion rupiah from a year earlier, the company said. Bank Central Asia, Indonesia’s largest bank by market value, declined 1.8 percent to 8,200 rupiah.
PT Bank Mandiri (BMRI IJ): The Indonesian bank’s first-half net income rose to 6.3 trillion rupiah from a year earlier, Finance Director Pahala Mansury said in Jakarta. Mandiri, the nation’s biggest bank by assets, retreated 1.9 percent to 7,900 rupiah.
Taiwan Semiconductor Manufacturing Co. (2330 TT): The world’s largest contract manufacturer of chips posted its first profit decline in almost two years and cut its expansion plan after Europe’s debt crisis forced clients to scale back orders. Second-quarter net income fell 11 percent to NT$36 billion ($1.3 billion) from NT$40.3 billion a year earlier, the Hsinchu, Taiwan-based company said in a statement. TSMC, Asia’s second-largest buyer of chip-making equipment, cut its forecast for capacity expansion this year, citing “the weakened economic condition,” the statement said. The stock lost 0.5 percent to NT$73.
WCT Bhd. (WCT MK): The Malaysian builder received a 115.1 million-ringgit earthworks services contract from Vale Malaysia Manufacturing Sdn., according to a company statement. WCT fell 0.3 percent to 3.06 ringgit.