Cheung Kong, Lenovo, Mazda, Sony, UOB: Asia Stocks Preview
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise.
Hong Kong developers: The city’s home sales fell 50 percent to HK$22.5 billion ($2.90 billion) in October from a year earlier, the city’s government said in a statement on its website.
Sun Hung Kai Properties Ltd. (16) (16 HK RV Relative Value), the world’s biggest developer by market value, rose 2.4 percent to HK$107.10. Cheung Kong (Holdings) Ltd. (1 HK), controlled by billionaire Li Ka-shing, gained 2.4 percent to HK$95.50.
Berger Paints Ltd. (BRGR IN): India’s third-biggest paintmaker by market value said profit for the three months ended Sept. 30 climbed 22 percent from a year earlier to 492.7 million rupees. The stock gained 2.2 percent to 106 rupees.
Cosco Corp. Singapore Ltd. (COS SP): The shipbuilding unit of China’s biggest shipping company said third-quarter net income slumped 42 percent from a year earlier to S$32.2 million ($25 million). The stock climbed 3 percent to S$1.02.
Cosmo Oil Co Ltd. (5007) (5007 JP): The oil refiner lowered its full-year net-income forecast 54 percent to 13 billion yen ($166 million, citing the suspension of a refinery in the wake of the March earthquake. The stock dipped 0.5 percent to 197 yen.
Hindustan Motors Ltd. (HM) : India’s oldest carmaker posted a loss of 223.6 million rupees for the second quarter ended Sept. 30, compared with a 116.5 million rupee profit a year earlier. The shares gained 2.9 percent to 14.45 rupees.
Lenovo Group Ltd. (992) (992 HK): China’s biggest maker of personal computers by market value said second-quarter profit rose 88 percent from a year earlier to $143.9 million. That compares with the $119.3 million average of eight analysts’ estimates compiled by Bloomberg. Separately, the company said flooding in Thailand would increase the cost of hard drives and affect computer supply. The stock gained 4.9 percent to HK$5.60.
Mazda Motor Corp. (7261) (7261 JT): The carmaker expects a full- year loss of 19 billion yen compared with the 1 billion yen profit in its earlier forecast, saying the yen’s appreciation hurt earnings. The stock tumbled 5.4 percent to 158 yen.
Mixi Inc. (2121) (2121 JP): The operator of Japan’s largest online social-networking service cut its full-year net-income forecast to 500 million yen to 1.1 billion yen from as much as 1.9 billion yen, citing a fall in online advertising revenue. The stock surged 8 percent to 239,700 yen.
NTT DoCoMo Inc. (9437) (9437 JT): The nation’s largest mobile- phone carrier raised its full-year net-income forecast 2.4 percent to 514 billion yen, beating analyst estimates of 512 billion yen as smartphone sales rose. The stock fell 2.2 percent to 136,800 yen.
Sony Corp. (6758) (6758 JT): Japan’s largest exporter of consumer electronics forecast a full-year loss of 90 billion yen as compared with an earlier projection of a 60 billion yen profit. The yen’s appreciation, flooding in Thailand and waning sales in the U.S. and Europe dragged on profit, the company said in a statement. The stock slipped 3.6 percent to 1,514 yen.
Trent Ltd. (TRENT) : the Tata group retailer, said net income for the quarter ended Sept. 30 plunged 72 percent to 34 million rupees from a year earlier. The stock fell for a third day, losing 0.3 percent to 1,065.5 rupees.
United Overseas Bank Ltd. (UOB) : Singapore’s third- biggest lender by market value, said third-quarter net income fell 24 percent from a year earlier to S$522 million. That missed the average estimate of S$596.1 million by seven analysts in a Bloomberg survey. The shares gained 1.8 percent to S$16.70.
To contact the reporter on this story: Masaaki Iwamoto in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com