Angang Steel, BYD, Henderson Land: 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.
Automakers: Deliveries of cars including multipurpose and sport-utility vehicles to dealerships rose 6.2 percent to 1.1 million units last month from a year earlier, the China Association of Automobile Manufacturers said on July 8.
BYD Co. (1211 HK): The Chinese carmaker backed by Warren Buffett declined 2.7 percent to HK$25.40. Dongfeng Motor Group Co. (489 HK), Chinese partner of Nissan Motor Co., rose 1.6 percent to HK$15.46.
Hong Kong developers: No sales were recorded at five of the city’s 10 biggest private apartment projects over the weekend, the first time since November, after lenders raised mortgage rates, Midland Holdings Ltd., a residential property broking service provider, said in an e-mailed statement.
Henderson Land Development Co. (12 HK), the Hong Kong builder controlled by billionaire Lee Shau-kee, advanced 0.3 percent to HK$50.05. Sino Land Co. (83 HK), a Hong Kong developer controlled by billionaire Robert Ng, increased 1.9 percent to HK$12.94.
Angang Steel Co. (347 HK): The steelmaker said net income for the six months ended June 30 may have fallen about 92 percent from a year earlier because of rising raw-material prices. The stock gained 1.1 percent to HK$8.85.
BaWang International Group Holding Ltd. (1338) (1338 HK): The Chinese maker of shampoos expects to record a loss for the first half of 2011 as sales were “adversely affected” by reports of dioxane content in its products. The stock declined 4.7 percent to HK$1.43.
Belle International Holdings Ltd. (1880) (1880 HK): China’s largest retailer of women’s shoes by market value said in an e- mailed statement its same-store sales for footwear rose 20 percent in the second quarter. The stock rose 0.6 percent to HK$17.04.
China Dongxiang Group Co. (3818) (3818 HK): The sportswear retailer in China said it expects sales for the six months ended June 30 to decline by about 45 percent from a year earlier. The stock slumped 5.5 percent to HK$2.08.
China SCE Property Holdings Ltd. (1966) (1966 HK): The developer or residential real estate said it may post a first-half loss due to a significant increase in finance costs after the sale of 2 billion yuan ($309 million) of U.S. dollar debt in January. The stock was unchanged at HK$2.
China State Construction International Holdings Ltd. (3311) (3311 HK): The provider of building construction services in Hong Kong said in an e-mailed statement its first-half new contracts value rose 73.6 percent from a year earlier to HK$19.3 billion. The stock advanced 0.6 percent to HK$8.17.
Sun Hung Kai Properties Ltd. (16) (16 HK): The world’s biggest developer by market value recorded sales of HK$4.5 billion ($578 million) from its Imperial Cullinan development over the past week, Hong Kong Economic Journal reported on July 9, citing Victor Lui, an executive director at the developer’s property agency unit. The stock rose 1.4 percent to HK$118.30.
To contact the editor responsible for this story: Nick Gentle at email@example.com.