Cebu Air, Hynix, Nanya Technology, Petron: 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.
Cebu Air Inc. (CEB) : The Philippines’ largest budget carrier said it flew more than 3.1 million passengers in the second quarter, a 15 percent increase from a year earlier. The airline is “on track” to achieving its target of flying 12 million passengers this year, it said in an e-mailed statement. The stock sank 0.2 percent to 86.05 pesos.
China CAMC Engineering Co. (002051 CH): The state- controlled contract’s net income in the first half rose 30 percent from a year earlier to 163 million yuan ($25 million), according to a statement to the Shenzhen Stock Exchange. The stock dropped 1.4 percent to 28.14 yuan.
Hynix Semiconductor Inc. (000660) (000660 KS): Bidders for a stake in Hynix will conduct due diligence for four to six weeks starting July 25, Korea Exchange Bank, one of Hynix’s shareholders, said in an e-mailed response to Bloomberg News. The shareholders will receive main bids after the completion of the due diligence, the bank said without giving an exact timeframe. Hynix gained 1.7 percent to 23,350 won.
Manila Electric Co. (MER) : The largest Philippine power retailer reiterated an earlier plan to invest in a $1 billion, 600-megawatt coal-fired power plant north of Manila, a stock- exchange filing showed. The stock rose 1 percent to 274.80 pesos. Aboitiz Power Corp. (AP) , a partner in the project, gained 0.3 percent to 32.50 pesos.
Nanya Technology Corp. (2408) (2408 TT): Taiwan’s second-largest memory-chip maker posted a sixth consecutive quarter of losses on slowing demand for computers. Second-quarter loss widened to NT$7.9 billion ($273 million) from a NT$1.1 billion loss a year earlier, the Taoyuan, Taiwan-based company said in a statement. The average of seven analysts’ estimates compiled by Bloomberg was for a NT$5.3 billion loss. Nanya dropped 0.7 percent to NT$7.11.
Petron Corp. (PCOR) : The largest Philippine oil refiner and the local unit of Royal Dutch Shell Plc won contracts to supply the Power Sector Assets and Liabilities Management Corp. with 8.34 billion pesos worth of fuel, the Manila-based state agency said. The stock jumped 0.6 percent to 16.88 pesos.
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