Angang, BYD, China Southern, Datang: 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.
Angang Steel Co. (347 HK): The steelmaker said it plans to buy up to 2.6 billion yuan ($400 million) of iron concentrate from Pangang Group Steel Vanadium & Titanium Co. (000629 CH) this year. Angang dropped 0.5 percent to HK$9.46.
BYD Co. (1211 HK): The Chinese maker of lithium batteries will start sales of storage batteries for homes and offices in Japan next month, anticipating and increase in demand because of power shortages, the Nikkei newspaper reported. The stock declined 0.6 percent to HK$26.80.
China Southern Airlines Co. (1055 HK): Asia’s largest carrier by passenger numbers signed an agreement with the southwestern municipality of Chongqing to build an aviation hub in the city, and will increase the number of Chongqing flights to Tibet and Yunnan, the Xinhua News Agency reported, citing a company spokesman. The stock surged 7.1 percent to HK$4.24.
Datang International Power Generation Co. (991 HK): The unit of China’s second-biggest electricity producer said its parent increased its holdings in the company to 36.09 percent from 36.07 percent. The parent company will in the next 12 months continue to increase its holding in Datang by as much as 2 percent, according to the statement. The stock jumped 4.7 percent to HK$3.10.
Guoco Group Ltd. (53) (53 HK): The Hong Kong investment group said it has increased its stake in Rank Group Plc (RNK LN), an operator of bingo clubs and casinos in the U.K., Spain and Belgium, and made a buyout offer at 150 pence a share. Guoco fell 0.6 percent to HK$96.90.
To contact the reporter on this story: Kana Nishizawa in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com.