Air China, BoCom, China Metal Recycling, CSCL: 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 Hang Seng Index slid 0.2 percent to 20,690.79. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, declined 0.6 percent to 11,865.17.
Air China Ltd. (753 HK): The nation’s largest international carrier plans to buy 20 737-800 aircraft from Boeing Co. for an estimated $1.4 billion to expand its fleet and accommodate a growing middle class. It plans to take delivery of the aircraft starting in 2013, according to a stock exchange filing. The stock was unchanged at HK$8.24.
Bank of Communications Co. (3328 HK): The bank is applying to open units in Sydney and London, and branches in San Francisco and Vietnam, President Niu Ximing said June 26. BoCom, minority owned by HSBC Holdings Plc (5 HK), gained 2 percent to HK$8.75.
China Metal Recycling Holdings Ltd. (773 HK): The nation’s biggest scrap metal recycler plans to list shares in China in three to five years, the South China Morning Post quoted Jacky Chun, the company’s chairman and chief executive officer, as saying. The stock slid 0.6 percent to HK$7.11.
China Shipping Container Lines Co. (2866 HK): The nation’s second-biggest cargo-box carrier plans to impose additional surcharges on transpacific shipments next month. The shipping line will levy an “emergency equipment surcharge” of $400 per forty-foot box from July 1, Deputy General Manger Zhao Hongzhou said June 25. The stock dropped 1 percent to HK$2.90.