Angang Steel, Daewoo Shipbuilding, Dyna-Mac: 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 latest close. The information in each item was released after markets shut unless stated otherwise.
Angang Steel Co. (347) (347 HK): The producer of steel rail and wire rods said Fu Wei resigned as deputy general manager due to “other job engagement.” Liu Baoshan was appointed as Fu’s replacement, the company said. The stock rose 0.7 percent to HK$5.45.
Daewoo Shipbuilding & Marine Engineering Co. (042660) (042660 KS): The company will sign an agreement to build three 1,400-ton submarines for Indonesia. The contract is worth about $1.1 billion, according to a regulatory filing. The South Korean shipyard rose 1.8 percent to 24,850 won.
Dawnrays Pharmaceutical (Holdings) Ltd. (2348) (2348 HK): The maker of non-patented chemical medicines said its unit received registration approval for a new drug. The stock declined 2 percent to HK$2.45.
Dyna-Mac Holdings Ltd. (DMHL SP), a provider of offshore engineering services partly owned by Keppel Corp. (KEP SP), said it won provisional contracts, valued at S$115 million ($88.2 million), from companies including Modec Inc., Bumi Armada Bhd and SBM Offshore NV. Dyna-Mac was unchanged at 40 Singapore cents.
Hitachi Metals Ltd. (5486) (5486 JT): The maker of metal products said it will begin talks to buy new shares of Taiwan’s Gloria Material Technology Corp. (5009 TT), seeking to complete the tie-up in the first quarter of the fiscal year ending March 2013. Hitachi Metals fell 0.4 percent to 801 yen.
KCC Corp. (002380) (002380 KS): The company temporarily halted operations at its polysilicon plant after product prices dropped, Edaily reported. KCC, a South Korean maker of building materials, added 7.2 percent to 282,000 won.
Kinki Nippon Tourist Co. (9726) (9726 JT): The travel agency more than doubled its operating profit forecast to 850 million yen ($11 million) for the year ending Dec. 31 from 400 million yen, citing a recovery in tourism. The stock was unchanged at 80 yen.
Larsen & Toubro Ltd. (LT) : India’s biggest engineering company won a contract valued at 695 million dirhams from Abu Dhabi Gas Industries Ltd., according to a statement published by the United Arab Emirates’ state WAM news agency. The order is for building the Habshan-Ruwais-Shuweihat gas pipeline. Larsen shares tumbled 5.3 percent to 977.7 rupees, the lowest price since May 2009.
Nitori Holdings Co. (9843) (9843 JT): The furniture retailer said it will raise 3 billion yen from sale of treasury shares in a private placement. It also said net income rose 2.3 percent to 23.7 billion yen in the nine months ended Nov. 20. Shares gained 1.9 percent to 7,160 yen.
Osaka Gas Co. (9532 JT): Japan’s second-biggest natural gas distributor will cut prices (NKY) by an average of 1.2 percent for household users, spokesman Satoshi Sugino said. The stock slid 1 percent to 301 yen.
Star Flyer Inc. (9206 JT): The regional airline will start trading on the Tokyo Stock Exchange. Its initial offering price was 3,180 yen per share.
Toyo Koken K.K. (6352) (6352 JQ), Toyo Kanetsu K.K. (6369 JQ): The construction machinery maker said it will buy out the rest of Toyo Koken, swapping 0.6 of its shares for each of Toyo Koken. Toyo Kanetsu already owns 38.42 percent of Toyo Koken, which is also a construction machinery company, according to the release. Toyo Koken fell 1.1 percent to 88 yen. Toyo Kanetsu added 0.7 percent to 143 yen.
Tsuruha Holdings Inc. (3391) (3391 JT): The drugstore chain said net income rose 24 percent to 5.52 billion yen in the six months ended Nov. 15, citing “favorable” same-store sales. The stock fell 0.1 percent to 4,310 yen.
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