Chow Sang Sang, Hero MotoCorp, San Miguel: Asian Equities Preview
The following companies may have unusual price changes in Asian trading tomorrow. Japanese markets were closed today for a national holiday. 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.
Hong Kong Retailers: Hong Kong’s retail sales rose 23.1 percent in October from a year earlier, slowing for the third straight month, according to the government’s website. That compares with a revised 24 percent gain in September and the median 20.5 percent estimate of nine economists in a Bloomberg News survey.
Sa Sa International Holdings Ltd. (178) (178 HK), a cosmetics retailer, gained 5.3 percent to HK$4.77. Chow Sang Sang Holdings International Ltd. (116) (116 HK), a jewelry retailer, jumped 6.2 percent to HK$21.50.
Hero MotoCorp Ltd. (HMCL IN): The maker of almost half the motorcycles sold in India said sales in November climbed 27 percent to 536,772, according to a statement today. The shares advanced 4.4 percent to 2,088.3 rupees.
Kumiai Chemical Industry Co. Ltd. (4996 JT): Net income at the agrochemical manufacturer rose to 1.3 billion yen in the year ended Oct. 31, beating a forecast of 900 million yen, according to a preliminary earnings statement to the Tokyo Stock Exchange. An increase in herbicide sales contributed to the result, the company said. The stock rose 5.4 percent to 275 yen.
MRC Allied Inc. (MRC) : The company signed an agreement with 18 tribes in the southern Philippine province of Surigao del Sur to supply MRC with minerals extracted from their ancestral domain, a stock exchange filing showed. The stock decreased 1.6 percent to 31 centavos.
San Miguel Brewery Inc. (SMB) : The largest Philippine beermaker seeks to change the terms of a 38.8 billion-peso ($896 million) bond issued in 2009, the company said in a stock exchange filing. The Manila-based beermaker wants a so-called minimum interest coverage ratio to replace the minimum current ratio for the bonds, the company said. The stock was unchanged at 28.50 pesos. San Miguel Corp. (SMC) , the brewer’s owner, gained 0.2 percent to 123.10 pesos.
Suzuki Motor Co. (7269 JT): Maruti Suzuki India Ltd.’s (MSIL IN) production is back to “near normal” and the company’s plant at Gurgaon is operating at full capacity, Chairman R.C. Bhargava said in New Delhi. The stock added 1.9 percent to 1,638 yen.
Tokyo Electric Power Co. (9501 JT): The utility halted the No. 4 unit at its Kashima thermal power plant in Ibaraki prefecture, near Tokyo, on Nov. 29 due to a leak of boiler steam, according to a statement on the its website. The stock was unchanged at 284 yen.
Toyota Motor Corp. (7203 JT): Bayerische Motoren Werke AG, the world’s largest maker of luxury vehicles, will supply Toyota with diesel engines under a partnership agreement signed by the two companies. BMW will supply Toyota, Asia’s biggest carmaker, with 1.6-liter and 2-liter engines for the Japanese company’s models in Europe starting in 2014, the two automakers said in a joint statement released in Tokyo. Toyota rose 2.3 percent to 2,567 yen.
Zappallas Inc. (3770 JT): The producer of Internet content for mobile phone users reported net income for the six months ended Oct. 31 was 833 million yen, down from 973 million yen a year earlier, according to a statement to the Tokyo Stock Exchange. The stock rose 4.4 percent t0 716,000 yen.
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