Korea Exchange Bank, Philex, Posco, Takeda: Asia Stocks Preview

The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets closed unless stated otherwise.

Philippine banks: The nation’s central bank said it approved the licenses for 162 branches to be opened by seven banks, including Security Bank Corp. (SECB PM), Bank of Commerce and East West Bank Corp.

Security was unchanged at 96.75 pesos. San Miguel Corp. (SMC PM), owner of Bank of Commerce, declined 0.9 percent to 118.90 pesos. Filinvest Development Corp. (FDC PM), owner of East West Bank, was unchanged at 3.60 pesos.

ABC-Mart Inc. (2670 JT): The shoemaker said same-store sales were 4.6 percent higher in November than a year earlier as cold weather late in the month boosted sales of boots. The stock rose 0.7 percent to 2,855 yen.

PT ABM Investama (ABMM IJ): The Indonesian coal mining and services company will start trading tomorrow after raising 2 trillion rupiah ($221 million) selling shares in an initial public offering last month.

Korea Exchange Bank (004940 KS): South Korea plans to conduct a tax audit on Korea Exchange Bank and Lone Star Funds, Seoul Economic Daily reported, citing an unidentified government official. Korea Exchange Bank fell 0.6 percent to 8,350 won.

Izumi Co. (8273 JT): The shopping-center operator will buy back as much as 3.66 percent of its outstanding shares for up to 4.2 billion yen ($54 million) from Dec. 6 through Feb. 22, according to a statement to the Tokyo Stock Exchange today. Shares gained 2 percent to 1,188 yen.

Mitsubishi Materials Corp. (5711 JT): The non-ferrous metal producer said a Thai subsidiary that shut due to flooding resumed output today. The stock fell 0.5 percent to 220 yen.

Nipro Corp. (8086 JT): The medical-products maker will buy 51 percent of Bangladesh’s JMI Pharma Ltd. for $10.5 million, according to a statement to the Tokyo Stock Exchange. Nipro added 0.8 percent to 635 yen.

Philex Mining Corp. (PX PM): The biggest Philippine metals producer said it produced 1.4 billion pesos ($32 million) worth of minerals in November and shipped 1.1 billion pesos of metals in the same month, a stock exchange filing showed. The stock fell 1.7 percent to 22.80 pesos.

Pigeon Corp. (7956 JT): The baby-care products manufacturer reported net income of 2.1 billion yen in the nine months ended Oct. 31, 26 percent better than the year earlier. The company also announced its second-half dividend forecast of 44 yen. The stock dipped 1.2 percent to 3,005 yen.

Posco (005490 KS): The South Korean steelmaker’s credit-rating outlook was lowered to ‘negative’ from ‘stable’ at Fitch Ratings, which cited increased debt amid slowing steel demand. Posco, the world’s third-biggest steelmaker, fell 0.9 percent to 394,500 won.

Takeda Pharmaceutical Co. (4502 JT): Asia’s biggest drug producer said it plans to begin a global vaccine business on Jan. 1. Rajeev Venkayya, a director at the Bill & Melinda Gates Foundation, will lead the new division, according to the company. Takeda rose 2.1 percent to 3,165 yen.

Up Garage Co. (3311 JP): The recycling chain will be bought in a management buyout for 50,000 yen per share, according to a statement. The stock lost 3.5 percent to 39,100 yen.

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