Asahi, Cheung Kong, Hanjin Shipping, Yamaha: Asia Stocks Preview
The following companies may have unusual price changes in Asia trading tomorrow. Japanese markets were closed today for a national holiday. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Hong Kong developers: Used-home transactions at 10 of Hong Kong’s biggest private housing developments fell this month to the lowest since at least January 2006, said Centaline Property Agency Ltd. The number of deals fell 30 percent in November from last month, the company said in an e-mailed statement.
Sun Hung Kai Properties Ltd. (16) (16 HK), the world’s biggest developer by market value, declined 2.8 percent to HK$93.20. Cheung Kong (Holdings) Ltd. (1) (1 HK), controlled by billionaire Li Ka-shing, slid 1.7 percent to HK$85.55.
Mining and trading firms: JX Holdings Inc. (5020 JT), Mitsui & Co. (8031 JT), Mitsui Mining & Smelting Co. (5706 JT) and Pan Pacific Copper Co. decided to raise investment in a Chilean molybdenum mine to $3 billion from $2 billion, according to a statement to the Tokyo Stock Exchange. The project should generate sufficient profits as copper prices (MXAP) have risen, the statement said.
JX Holdings rose 0.4 percent to 481 yen. Mitsui & Co. added 0.6 percent to 1,182 yen. Mitsui Mining gained 1 percent to 194 yen.
Access Co. (4813 JT): The developer of Internet browser software reported a net loss of 1.92 billion yen for the nine- month period ended Oct. 31, wider than a 1.24 billion yen loss a year earlier, according to a statement to the Tokyo Stock Exchange. The company lost 0.8 percent to 39,300.
Asahi Group Holdings Ltd. (2502 JT): The maker of beer and other beverages is seeking approval from the Australian Competition & Consumer Commission to buy Mountain H20 Pty Ltd., a mineral water company, according to a statement to the Tokyo Stock Exchange. The stock rose 0.4 percent to 1,697 yen.
Axiata Group Bhd. (AXIATA MK): Malaysia’s largest mobile- phone company by market value said third-quarter profit fell to 589.6 million ringgit ($185.57 million) from 639.1 million ringgit a year earlier. The shares gained 5.2 percent to 5.10 ringgit.
Easyknit International Holdings Ltd. (1218) (1218 HK): The exporter of cotton-based garments said net loss for the six months ended Sept. 30 was HK$205 million ($26.3 million), compared with a profit of HK$254 million a year earlier. The stock was unchanged at HK$4.
Hanjin Shipping Co. (117930 KS): The company will raise rates for Asia-Europe routes starting Dec. 23 on higher costs including fuel, according to an e-mailed statement. The South Korean shipping line slipped 1.8 percent to 8,430 won.
Hansol Technics Co. (004710) (004710 KS): The company plans to sell about 3 million new shares, according to a regulatory filing. The South Korean maker of display modules lost 0.5 percent to 22,100 won.
Maxis Bhd. (MAXIS) : The Malaysian mobile-phone operator said third-quarter net profit fell to 537 million ringgit from 601 million ringgit a year earlier, according to a company statement. The shares rose 1.5 percent to 5.50 ringgit.
Mphasis Ltd. (MPHL) : An Indian software-maker said net income fell 25 percent to 8.22 billion rupees from a year earlier, according to an exchange filing today. The shares rose 0.9 percent to 324.8 rupees.
NTPC Ltd. (NTPC IN): India’s biggest power producer has exited International Coal Ventures Ltd., a group of Indian state-run companies formed to look for coal assets overseas, Chairman Arup Roy Choudhury said in New Delhi today. The stock climbed 2.4 percent to 162.35 rupees.
Ranbaxy Laboratories Ltd. (RBXY) : India’s largest drugmaker by revenue got an approval from the U.S. Food and Drug Administration for it’s manufacturing plant in Mohali in northern India, according to a statement posted on the website of PharmAsia News. The company’s spokesman Krishnan Ramalingam declined comment when contacted by phone. The shares lost 3.9 percent to 434.65 rupees.
Toshiba Corp. (6502 JT): The maker of semiconductors and nuclear power plants will phase out production in the first half of fiscal 2012 at three of the six plants that produce discrete, analog and imaging chips, the company said in a statement. The stock fell 1.1 percent to 347 yen.
Yamaha Motor Co. (7272 JT): The motorcycle maker plans to restore its full output in Thailand by year-end, the Nikkei newspaper reported. Thailand flooding cut the firm’s motorcycle production by about 40,000 units, the newspaper reported on its website, citing President Hiroyuki Yanagi. The stock fell 0.6 percent to 1,046 yen.
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