Ayala, CSBC, EVA Air, Li & Fung, Westpac: Asia Ex-Japan Equities Preview
The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Australian banks: Treasurer Wayne Swan introduced legislation yesterday to prevent price signaling among the nation’s banks after the national competition regulator said there’s “strong evidence” lenders have been flagging increases in mortgage rates to competitors. Swan issued an e-mailed statement yesterday. Commonwealth Bank of Australia (CBA) , the nation’s biggest lender by market value, gained 0.8 percent to A$51.72. Westpac Banking Corp. (WBC) , the nation’s No. 2 lender, increased 1.7 percent to A$23.42. Australia & New Zealand Banking Group Ltd. (ANZ) , the country’s third-largest lender, rose 0.9 percent to A$23.29.
Philippine banks, builders: The central bank increased borrowing costs for the first time since August 2008, raising the rate it pays lenders for overnight deposits to 4.25 percent from a record-low 4 percent, according to a statement released by the monetary authority yesterday. Banco de Oro Unibank Inc. (BDO) , the nation’s biggest bank, fell 0.3 percent to 49.85 pesos. Ayala Land Inc. (ALI) , the biggest developer, gained 0.1 percent to 15 pesos.
Taiwan airlines: The nation’s Cabinet approved rule changes allowing foreign private jets to ply between airports on the island, the Government Information Office said in an e-mailed statement yesterday. The jets will be permitted to provide some commercial domestic services should there be a mutual aviation agreement between Taiwan and the nation where the aircraft are registered, it said. China Airlines Ltd. (2610) (2610 TT), Taiwan’s largest carrier, gained 0.6 percent to NT$17.70. EVA Airways Corp. (2618) (2618 TT), the second-biggest carrier, decreased 1 percent to NT$24.05.
China Coal Energy Co. (1898 HK): The country’s second- biggest producer of the fuel is seeking to raise 150 billion yuan ($23 billion) to finance projects through 2015, Chief Financial Officer Weng Qing’an told reporters in Hong Kong. The company will raise funds through bonds and loans, Weng said. China Coal dropped 1.9 percent to HK$10.54.
CSBC Corp. (2208 TT): The Taiwanese shipbuilder plans to pay a cash dividend of NT$1.80 per share on 2010 earnings, a stock-exchange filing showed. The stock was unchanged at NT$26.90.
Daewoo Motor Sales (004550) Corp. (004550 KS): The South Korean auto sales company is in talks with potential buyers to sell all or part of its stake in auto-financing unit Woori Capital Co., a stock-exchange filing showed. The stock was unchanged at 2,150 won.
Giordano International Ltd. (709) (709 HK): The Hong Kong-based clothier said full-year net income increased to HK$537 million ($69 million) from HK$288 million a year earlier. That beat the HK$468 million average estimate of four analysts compiled by Bloomberg. The stock fell 0.9 percent to HK$4.44.
Li & Fung Ltd. (494) (494 HK): The biggest supplier to Wal-Mart Stores Inc. said full-year net income increased 27 percent to HK$4.28 billion. That compared with the average estimate of HK$5.03 billion in a Bloomberg News survey of nine analysts. The stock lost 0.2 percent to HK$42.95.
iPeople Inc. (IPO) : The Philippine company that invests in schools will pay 6 centavos a share in dividend, a stock- exchange filing showed. It’s the company’s highest dividend payment since 2006, according to data compiled by Bloomberg News. The stock fell 6.2 percent to 3.80 pesos. House of Investments Inc. (HI) , which owns the company, increased 13 percent to 3.50 pesos when the shares last traded on March 21.
QR National Ltd. (QRN) : The Australian rail freight company said it expects underlying earnings before interest and tax for the 2011 financial year to be in the range of A$380 million ($385 million) to A$410 million. The stock increased 1.6 percent to A$3.24.
Woori Finance Holdings Co. (053000 KS): Woori Bank hired Barclays Plc, BNP Paribas SA, Bank of America Corp., HSBC Holdings Plc, JPMorgan Chase & Co., UBS AG and Woori Investment & Securities Ltd. to help it with a planned sale of dollar bonds, according to a person familiar with the matter. The Reg S/144A lower tier 2 subordinated notes may be sold after meetings with investors, which commence March 28, the person said. Woori Finance, which owns the bank, fell 1.4 percent to 14,050 won.
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