Air China, Asia Cement, StanChart: Hong Kong Equities Preview

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 market was closed yesterday for a holiday.

The Hang Seng Index fell 3.4 percent to 16,250.27. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, declined 3.6 percent to 8,102.58.

Hong Kong developers: Hong Kong’s September home sales fall 44 percent on year to HK$23 billion ($2.95 billion), while the number of deals dropped 54 percent to 4,823, according to a statement on the government website.

Sun Hung Kai Properties Ltd. (16 HK), the world’s biggest developer by market value, fell 3.5 percent to HK$85.80.

Cheung Kong (Holdings) Ltd. (1 HK), controlled by billionaire Li Ka-shing, retreated 1.7 percent to HK$79.55.

Air China Ltd. (753 HK), China Eastern Airlines Corp. (670 HK): The airlines cut passenger fuel surcharges for flights of under 800 kilometers to 70 yuan from 80 yuan, China News Service reported. Air China, the world’s biggest carrier by market value, retreated 6.2 percent to HK$4.86. China Eastern Airlines, Asia’s second-largest carrier by passenger numbers, sank 5.8 percent to HK$2.11.

Asia Cement China Holdings Corp. (743 HK): The cement manufacturer said it expects nine-month profit to surge more than 450 percent from a year earlier on higher prices and increased capacity. The stock declined 3.1 percent to HK$2.83.

Fosun International (656 HK): The company, which has operations in the real estate, pharmaceutical and mining industries, said 11 workers died, one was injured and another missing after molten iron spilled at its unit’s plant in China’s eastern city of Nanjing. Production at Nanjing Iron & Steel Co. is in “normal order” and the incident is under investigation, it said. The stock retreated 6 percent to HK$3.31.

Standard Chartered Plc (2888 HK): Chief Executive Officer of U.K.’s second-biggest lender by market value Peter Sands said the bank will see “double-digit income growth” for the full year. The “second half has started well,” he said. The stock declined 5.3 percent to HK$140.60.

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