Huadian, ICBC, PetroChina, Sinopec: Hong Kong Equity 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.
Amax Holdings Ltd. (959 HK): The Macau gambling-junket operator said it expects to rebound to a profit for the six months ended Sept. 30 from a loss a year earlier. The stock gained 0.7 percent to 13.8 Hong Kong cents.
China Petroleum & Chemical Corp. (386 HK): The refiner, also known as Sinopec, may be the most likely buyer of liquefied natural gas from Origin Energy Ltd. and ConocoPhillips’s A$35 billion ($34 billion) Australia Pacific Queensland project, the Australian Financial Review reported in its Street Talk column, without citing anyone. The stock gained 1.7 percent to HK$7.37.
Huadian Power International Co. (1071 HK): The power producer said 600 million of its shares that were locked up will become tradeable on Dec. 1, according to a company statement to the Shanghai Stock Exchange. The stock declined 0.6 percent to HK$1.63.
Industrial & Commercial Bank of China Ltd. (1398 HK): The nation’s largest lender said the China Securities Regulatory Commission approved its rights offer of 11.26 billion A shares at 2.99 yuan each, and the new stock will start trading Nov. 30. The lender rose 1.2 percent to HK$6.03.
PetroChina Co. (857 HK): China’s biggest oil and gas producer said it will pay 392.3 million yuan ($59 million) for a 4.36 percent stake in a fuel oil company, making it its complete subsidiary. PetroChina rose 0.3 percent to HK$9.52.
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