China Shipping, ICBC, Trading Hours: Hong Kong Stocks Preview
New trading hours at the Hong Kong stock exchange begin today, with the morning session starting at 9:30 a.m. local time instead of 10 a.m., and midday-trading break changing to 12 p.m. to 1:30 p.m., from 12:30 p.m. to 2:30 p.m.
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.
Property developers: Hong Kong home prices gained 0.9 percent in the week ended Feb. 27 from the previous seven days, according to Centaline Property Agency Ltd. The Centa-City Leading Index, an indicator of housing prices in the city, rose to 94.81, the company said in a website statement on March 4.
Cheung Kong (Holdings) Ltd. (1 HK), the city’s No. 2 developer by market value, gained 1.8 percent to HK$125.10. Sino Land Co. (83 HK), controlled by billionaire Robert Ng, advanced 0.9 percent to HK$14.14.
Air China Ltd. (601111) (753 HK): The airline’s profit improved “significantly” in 2010, Chairman Kong Dong said in Beijing. Kong also said Air China may consider overseas acquisitions by 2015. Air China, the country’s No. 1 international airline, was unchanged at HK$7.44.
Bank of China Ltd. (3988) (3988 HK): The nation’s third-largest lender by market value may consider fund-raising plans to boost its supplementary capital as new regulations on capital requirements are putting “relative big” constraints on lenders, President Li Lihui said in Beijing. The shares rose 1.2 percent to HK$4.18.
BaWang International Group Holding Ltd. (1338) (1338 HK): The shampoo maker said it may record a full-year net loss of as much as 130 million yuan, citing a “substantial decline” in earnings on its shampoo products in the second half of 2010. The stock jumped 4.3 percent to HK$2.21.
China Eastern Airlines Corp. (670 HK): China Eastern Air Holding Co., the parent of the nation’s second-largest carrier, expects profit to fall this year because of higher oil prices, said Li Jun, its party secretary. The stock declined 1.4 percent to HK$3.46.
China Overseas Land & Investment Ltd. (688) (688 HK): The Hong Kong-listed developer controlled by the nation’s construction ministry plans to set up a real-estate fund of $300 million to $500 million as it bets that government measures won’t curb property demand. The fund, which will invest in commercial and residential properties in China, may be ready in the first half, Chairman Kong Qingping said in an interview. The stock gained 0.8 percent to HK$13.46.
China Resources Cement Holdings Ltd. (1313) (1313 HK): The cement maker said 2010 net income rose to HK$2.04 billion from HK$1.01 billion a year earlier, while and earnings per share fell to 31.3 cents from 40 cents. The stock climbed 1.4 percent to HK$6.62.
China Shipping Container Lines Co. (2866 HK): The shipping company plans to add six ships this year, Chairman Li Shaode said in Beijing. Each ship has a capacity of 14,100 twenty-foot equivalent units, he said. The company has taken delivery of one of the ships, Li said. The Baltic Dry Index is being affected by unrest in the Middle East and North Africa and will rebound in the second half, he said. The stock gained 3 percent to HK$3.42.
China Mobile Ltd. (941) (941 HK): The world’s biggest phone carrier by market value is seeking to expand overseas and is looking at opportunities globally, Chairman Wang Jianzhou said. China Mobile doesn’t have any “concrete” targets currently, he said. The stock increased 1.2 percent to HK$74.60.
China Unicom (Hong Kong) Ltd. (762 HK): The nation’s second-largest mobile-phone company will add more 3G users this year than last year, Chairman Chang Xiaobing said in Beijing. China Unicom is experimenting with and “closely following” 4G technology, he said. The stock increased 2.6 percent to HK$13.24.
Industrial & Commercial Bank of China (601398) Ltd. (1398 HK): The lender’s President Yang Kaisheng said its loan growth this year will be lower than that of last year. ICBC, the world’s No. 1 lender by market value, rose 1.7 percent to HK$6.17.
SCMP Group Ltd. (583) (583 HK): Reginald Chua will step down as editor-in-chief of the South China Morning Post, a Hong Kong newspaper controlled by billionaire Robert Kuok’s Kerry Group Ltd., at the end of the month, according to an e-mail to staff seen by Bloomberg News. Cliff Buddle, who has been at the newspaper for 16 years, will be acting editor-in-chief. Anne Wong, a spokeswoman for the newspaper, confirmed that Chua would step down this month. The stock gained 1.2 percent to HK$1.68.
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