Cathay, Dah Sing, Giordano, Skyworth: Hong Kong Stocks 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.
Cathay Pacific Airways Ltd. (293 HK): The company’s overall expansion plan including a cargo terminal will be funded through “traditional methods” of financing, Chief Executive Officer Tony Tyler said. A bonus package for staff was funded by profits, and there’s no need to issue new shares to raise funds, he said. Cathay Pacific, Hong Kong’s biggest airline, gained 3.4 percent to HK$22.80.
Dah Sing Financial Group Ltd. (440 HK): The company and its Hong Kong bank unit plan to raise at least HK$2.2 billion ($284 million) in two rights offers to help boost the bank’s capital base. Dah Sing Financial will sell at least HK$1.2 billion of shares to existing investors, according to a statement. Dah Sing Banking Group Ltd. (2356 HK) will raise at least HK$1 billion in a rights offer, it said. Dah Sing Financial gained 2.8 percent to HK$61.45. Dah Sing Bank rose 0.4 percent to HK$15.24.
Giordano International Ltd. (709 HK): The Hong Kong clothing retailer said third-quarter group sales rose 16.9 percent from a year earlier, citing unaudited figures in an operations update. The stock gained 0.4 percent to HK$4.86.
Skyworth Digital Holdings Ltd. (751 HK): The Chinese manufacturer of televisions said it expects a “significant” decrease in first-half net income on lower sales volume and profit margin. The stock declined 0.9 percent to HK$4.36.
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