Ajinomoto, HDFC, Kingsoft, KEC, Korea Gas, Toyota: 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.
Ajinomoto Co. (2802 JT): The seasonings maker is restarting three plants in Thailand this month after suspending operations at five factories due to flooding, Ajinomoto said in a release. The stock slipped 0.2 percent to 907 yen.
Fast Retailing Co. (9983 JT): Asia’s largest clothing chain said it will boost capital in a Singapore subsidiary by about S$32 million ($24 million) at the end of this month. The stock slipped 0.8 percent to 12,090 yen.
Futaba Industrial Co. (7241 JT): The company said it will set up a wholly owned subsidiary to start making autoparts in China next August. The stock fell 1.4 percent to 433 yen.
Hanwha Corp. (000880) (000880 KS): The company reported a 65 percent drop in third-quarter earnings, according to a regulatory filing. The stock fell 3 percent to 34,350 won.
Housing Development Finance Corp. (HDFC) : India’s largest mortgage-lender plans to raise at least 1.5 billion rupees ($28.8 million) selling three-year bonds, according to a person with direct knowledge of the transaction. HDFC will sell the debt to yield 9.8 percent, the person said declining to be identified as the details are private. Shares added 0.3 percent to 626.1 rupees.
Kingsoft Corp. (3888) (3888 HK): The developer of computer software said profit for the three months ended Sept. 30 was 74.9 million yuan, compared with 85 million yuan a year earlier. The stock was unchanged at HK$3.17.
Korea Gas Corp. (036460) (036460 KS): The world’s biggest importer of liquefied natural gas, plans to spend an additional 167 billion won ($144 million), to build a pipeline network linking the South Korean cities, according to a regulatory filing. The company fell 0.9 percent to 37,150 won.
KEC International Ltd. (KECI IN): The Indian power transmission company sold 7.63 acres of land near Vashi in Mumbai to Vodafone Shared Services Ltd. for 725 million rupees, it said in an exchange filing. Shares slid 0.2 percent to 40.9 rupees.
MISC Bhd. (MISC MK): Asia’s largest shipping line by market value said it will stop operating container vessels after the unit lost $789 million in three years. The move will result in a one-off $400 million charge this year, MISC said in a statement. MISC last traded at 6.13 ringgit before it was suspended.
Nissen Holdings Co. (8248 JO): The mail-order business operator said sales on a parent basis fell 7.1 percent in the month ended Nov. 20 from a year earlier, its first drop since August. The stock fell 0.9 percent to 463 yen.
Posco (005490) (005490 KS): The world’s third-biggest steelmaker, may study investing in Mitsubishi Corp.’s iron ore operation in Australia’s Mid-West region, according to the company’s e-mailed statement. The company rose 1.4 percent to 360,000 won.
Suzuki Motor Corp. (7269) (7269 JT): Volkswagen AG (VOW GR) said there’s “no legal basis” to force the German carmaker to sell back its 19.9 percent stake in Suzuki Motor, according to an e- mailed statement. Europe’s biggest auto manufacturer “categorically rejects” allegations by Suzuki and is “confident” it will prevail in arbitration, spokesman Eric Felber said in the statement. Suzuki rose 0.9 percent to 1,533 yen.
The Basic House Co. (084870) (084870 KS): The apparel maker, posted third-quarter profits that swung to a net loss of 1.9 billion won, according to regulatory filing. The company fell 2.9 percent to 18,700 won.
Toyota Motor Corp. (7203) (7203 JT): the world’s biggest carmaker by market value will shift output of some hybrid vehicle parts, including batteries and motors, from Japan due to the strong yen, the Asahi newspaper reported. The stock dropped 0.5 percent to 2,376 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com