China Shipping, Kansai Electric, MindTree: Asia Stocks Preview
The following companies may have unusual price changes in Japanese 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.
Automakers: The Japan Automobile Manufacturers’ Association expects domestic car demand to grow 19 percent to 5 million units this year, according to a statement on the industry group’s website. Toyota Motor Corp. (7203) (7203 JT), Asia’s biggest carmaker by market value, declined 0.5 percent to 2,584 yen. Honda Motor Co. (7267) (7267 JT), the second-largest, fell 0.2 percent to 2,563 yen.
China Shipping Container Lines Co. (2866) (2866 HK): The Shanghai- based shipping company said it expects a net loss for the year ended December, compared with a profit in the previous year. The company attributed the loss to factors including slow U.S. economic recovery and Europe’s debt crisis. The stock slid 1.6 percent to HK$1.83.
Cnooc Ltd. (883) (883 HK): China’s biggest offshore energy explorer aims to increase crude and natural-gas production by as much as 2.7 percent this year after meeting a reduced 2011 target. The stock gained 0.9 percent to HK$15.76.
Kansai Electric Power Co. (9503) (9503 JT): Japan’s Nuclear and Industrial Safety Agency approved the results of the utility’s stress tests on two reactors at the utility’s Ohi nuclear plant, the watchdog said in a statement. The stock rose 3.2 percent to 1,262 yen.
Keppel Telecommunications & Transportation Ltd. (KPTT SP): The operator of data centers and provider of logistics services said net income in 2011 climbed 38 percent from a year earlier to S$79.4 million ($62 million), boosted by gains from divestments. The stock added 0.9 percent to S$1.08.
Kirloskar Oil Engines Ltd. (KOEL) (KOEL IN): The Indian maker of internal combustion engines will on Jan. 25 consider a share buyback, it said in an exchange filing. The stock dropped 3 percent to 134.95 rupees.
MindTree Ltd. (MTCL) : The Indian software company reported third-quarter profit of 606 million rupees, compared with 305 million rupees in the same period last year, according to an exchange filing. That beat the 539-million rupee median of estimates by 13 analysts in a Bloomberg News survey. Shares jumped 1.7 percent to 449.1 rupees.
Resona Holdings Inc. (8308) (8308 JT): Japan’s fourth-biggest commercial bank by value said its Resona Bank unit may have accidentally discarded some customer data on names, account numbers and balance. The stock slid 0.6 percent to 333 yen.
Sogo Medical Co. (4775) (4775 JT): The pharmaceutical chemicals and drugs provider said net income for the nine months ended December rose 39 percent to 1.61 billion yen ($21 million) from a year earlier. The stock climbed 0.6 percent to 2,592 yen.
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