Inotera, Asian Shares Added to MSCI Indexes: Stocks to Watch
Inotera Memories Inc. (3474) and Doosan Heavy Industries & Construction Co. (034020) led gains among shares of companies that will be added to MSCI Barra's country equity benchmarks. New Zealand's Tower Ltd. led a drop among stocks that will be removed. Prices were as of 4:10 p.m. in Hong Kong.
Shares of 36 companies in Asia were chosen for inclusion, while 40 companies will be dropped from the indexes, according to a review announcement on the index provider's Web site yesterday. Markets in Japan and China are closed for a holiday today.
The changes will take effect at the close of trading May 31 and can boost a company's share price by luring money from managers whose funds track the measures.
Stocks to be added to MSCI indexes:
Aditya Birla Nuvo Ltd. (ABNL) , an Indian maker of garments, viscose filament yarn, textiles and carbon black, rose 4.4 percent to 1,201 rupees.
China Shenhua Energy Co. (1088 HK), the nation's biggest coal producer, climbed 3.7 percent to HK$20.85.
Doosan Heavy Industries & Construction Co. (034020 KS), South Korea's biggest maker of generator equipment, jumped 9.6 percent to 74,000 won.
Epistar Corp. (2448) (2448 TT), which makes chips that run light- emitting diodes in mobile phones, added 3.6 percent to NT$114.50.
Hanwha Corp. (000880) (000880 KS), a South Korean explosives maker, advanced 5.9 percent to 45,400 won.
Hengan International Group Co. (1044 HK), a Hong Kong-based sanitary products maker, gained 2.2 percent to HK$25.90.
Hyundai Merchant Marine Co. (011200 KS), South Korea's second-largest shipping line, added 0.9 percent to 29,600 won.
Hyundai Steel Co. (004020) (004020 KS), South Korea's second-largest steelmaker, rose 3.1 percent to 41,350 won.
Inotera Memories Inc. (3474 TT), Taiwan's profitable computer-memory chipmaker, gained 3.8 percent to NT$38.65.
Kinsus Interconnect Technology Corp. (3189 TT), a Taiwan maker of electronic components, climbed 2.4 percent to NT$126.
Mosel Vitelic Inc. (2342) (2342 TT), a Taiwan-based maker and seller of computer memory chips, advanced 3.7 percent to NT$40.95.
Motech Industries Inc. (6244) (6244 TT), Taiwan's largest solar- cell maker, gained 2.6 percent to NT$409.50.
Nanya Technology Corp. (2408) (2408 TT), Taiwan's second-biggest memory chipmaker, climbed 2.3 percent to NT$28.70.
ProMOS Technology Inc. (5387 TT), Taiwan's third-biggest maker of computer-memory chips, jumped 4.3 percent to NT$13.50.
Tingyi Holding Corp. (322 HK), China's biggest maker of packaged food, climbed 1.3 percent to HK$8.41 in Hong Kong.
Tripod Technology Corp. (3044) (3044 TT), a Taiwanese maker of printed circuit boards, gained 4.7 percent to NT$135.
Unimicron Technology Corp. (3037) (3037 TT), a Taiwan maker of printed circuit boards, rose 2 percent to NT$46.80.
Vanguard International Semiconductor Corp. (5347) (5347 TT), a custom-chip maker, advanced 1.2 percent to NT$30.35.
Videocon Industries Ltd. (VCLF) , an Indian maker of televisions, home appliances and oil explorer, gained 4.7 percent to 441.05 rupees.
Wistron Corp. (3231) (3231 TT), a Taiwan maker of personal computers, climbed 4.8 percent to NT$52.70.
Stocks to be deleted from the MSCI indexes:
Arvind Mills Ltd. (ARVND IN), an Indian textile company, slid 1.6 percent to 46.10 rupees.
Bank of Baroda (BOB) , India's fifth-biggest bank, rose slipped 0.6 percent to 243.9 rupees.
Creative Technology Ltd. (CREAF) , a Singapore-based maker of digital music players that compete with Apple Inc.'s iPods, lost 2.2 percent to S$8.95.
Daeduck Electronics Co. (008060) (008060 KS), a maker of printed circuit boards, slid 1.4 percent to 7,700 won.
ICI Pakistan Ltd. (ICI) , the nation's biggest producer of paints, dropped 1 percent to 150.45 rupees.
Kim Eng Securities (Thailand) Pcl (KEST TB), Thailand's biggest brokerage by sales, slipped 0.6 percent to 16.2 baht.
Matrix Laboratories Ltd. (HDPH IN), an Indian drugmaker, slid 2.1 percent to 190.5 rupees.
Thai Union Frozen Products Pcl (TUF) , the world's second-biggest tuna canner, lost 0.5 percent to 21.9 baht.
Tower Ltd. (TWR) , New Zealand's third-biggest fund manager for individuals, dropped 4.1 percent to NZ$2.11.
Warehouse Group Ltd. (WHS) , New Zealand's largest publicly traded retailer, fell 1.4 percent to NZ$6.85.
To contact the reporter on this story: Chen Shiyin in Singapore at firstname.lastname@example.org
To contact the editor responsible for this story: James Regan in Hong Kong at email@example.com