AirAsia, Hyundai Mobis, Kingfisher, YG Entertainment: Asia Stocks Preview
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices (MXAP) are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
South Korean automobile-related companies: The parliament passed a bill for a trade accord between the U.S. and South Korea. Producers of auto-parts will be the most immediate beneficiaries, Yim Eun Young, an analyst with Dongbu Securities Co. in Seoul, said.
Hyundai Mobis (012330) (012330 KS), South Korea’s biggest maker of auto parts, added 1.6 percent to 313,500 won. Mando Corp. (060980) (060980 KS) rose 2.1 percent to 193,000 won while Halla Climate Control Corp. (018880) (018880 KS) fell 2.5 percent to 21,700 won.
AirAsia Bhd. (AIRA) : Asia’s biggest budget carrier said third-quarter net income fell to 152.3 million ringgit ($48 million) from 327.3 million ringgit a year earlier, according to a filing to the Kuala Lumpur stock exchange. The stock rose 0.3 percent to 3.67 ringgit.
Daewoo Engineering & Construction Co. (047040) (047040 KS): The Seoul-based company said it won an order for a tank farm project from Sadara Chemical Co. in Saudi Arabia. A final agreement will be signed at a later date. The South Korean builder fell 0.3 percent to 8,950 won.
Kingfisher Airlines Ltd. (KAIR) : The Indian airline submitted a new flight plan to the nation’s aviation regulator and expects to restore normal operations in four to five months, a civil aviation ministry official, who declined to be named citing government policy, told reporters in New Delhi today. Shares climbed 3.2 percent to 24.55 rupees.
Li Ning Co. (2331) (2331 HK): Growth in the value of orders for a 2012 second-quarter trade fair was “flat” compared to a year earlier, the sports footwear maker said in an e-mailed statement. The stock gained 0.6 percent to HK$6.33.
Siemens Ltd. (SIEM) : The Indian unit of Europe’s largest engineering company posted group profit of 8.68 billion rupees for the year ended Sept. 30, according to an exchange filing. Shares dropped 3 percent to 699.55 rupees.
YG Entertainment Co. (122870 KS): The South Korean entertainment company that manages the Korean boy band Big Bang, debuts in Seoul today. YG raised 42.4 billion won ($37 million) selling almost 1.25 million shares.
Vantage International (Holdings) Ltd. (15) (15 HK): The provider of construction and maintenance services said profit in the six months ended Sept. 30 rose to HK$92.2 million ($13 million) from HK$61.1 million a year earlier. The stock declined 3 percent to 48 Hong Kong cents.