Acer, Hynix, Koh Bros., Marico, Skyworth : Asian 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.
Acer Inc. (2353) (2353 TT): The world’s fourth-largest computer maker’s fourth-quarter net income was NT$75 million ($2.5 million) compared with NT$3.9 billion a year earlier, according to the Taipei-based company. The average of 18 analyst estimates compiled by Bloomberg was for a profit of NT$176 million. The stock advanced 2.9 percent to NT$44.30.
GCA Savvian Group Corp. (2174) (2174 JT): The merger adviser forecast net income will rise 31 percent to 700 million yen ($8.9 million) this year, while operating profit will fall 43 percent to 2.43 billion yen on a possible drop in sales. The stock climbed 3.5 percent to 95,900 yen.
Hiap Hoe Ltd. (HIAP) : The luxury property developer said net profit for the three months ended Dec. 31 fell 21 percent to S$13 million ($10 million) from a year earlier. The stock rose 1 percent to 48.5 Singapore cents.
Hokuriku Electric Power Co. (9505) (9505 JT): The utility will halt a unit at its Nanao Ota thermal power plant today to repair a boiler problem, according to a statement on its website. Shares rose 1.5 percent to 1,605 yen.
Hynix Semiconductor Inc. (000660) (000660 KS): Moody’s Investors Service has upgraded the corporate family and senior unsecured debt ratings of Hynix to Ba3 from B1. The world’s second-largest maker of computer-memory chips rallied 5.3 percent to 29,000 won.
Kanto Natural Gas Development Co. (1661) (1661 JT): The fuel supplier said net income fell 1.5 percent to 1.8 billion yen in the year ended Dec. 31, beating the company’s forecast by 20 percent. The company said profit will fall 5.3 percent to 1.7 billion yen this year. Kanto added 0.2 percent to 430 yen.
Koh Brothers Group Ltd. (KOH SP) FG GF Fundamental Graph): The investment holding company said profit for the three months ended Dec. 31 fell to S$1.3 million from S$1.9 million a year earlier. The stock was unchanged at 20 Singapore cents.
Kyoei Steel Ltd. (5440) (5440 JT): The maker of specialty steel products will set up a venture with a local partner in Vietnam, where demand is expected to keep growing, according to a statement. The stock gained 1.7 percent to 1,468 yen.
Marico Ltd. (MRCO) : Reckitt Benckiser Group Plc, the maker of Dettol handwash, said it agreed to sell the personal care business of its Indian Paras Pharmaceuticals unit to Marico, a Mumbai-based maker of hair products and cooking oil.
The transaction should be completed by the end of the second quarter, according to a statement from Slough, England- based Reckitt Benckiser, which didn’t disclose the price. Marico shares advanced 2 percent to 165.05 rupees.
Industrial & Infrastructure Fund Investment Corp. (3249) (3249 JT): The real estate investment trust said it will raise as much as 17.5 billion yen by selling shares in Japan and abroad. The stock gained 2.5 percent to 398,000 yen.
Qol Co. (3034 JQ): The pharmacy operator said it will conduct a 100-for-1 stock split, adopting minimum trading of 100 shares. Qol slipped 0.2 percent to 51,200 yen.
Modec Inc. (6269) (6269 JT): The maker of gas production equipment reported net income of 3 billion yen in the year ended Dec. 31, beating its 2.9 billion yen outlook, buoyed by earnings from affiliates, according to a preliminary earnings statement. The stock rose 1.8 percent to 1,443 yen.
Skyworth Digital Holdings Ltd. (751) (751 HK): The television and audio-visual products maker named Yang Dongwen as the chief executive officer and Zhang Xuebin as executive chairman. The stock increased 0.8 percent to HK$3.84.
Sumitomo Pipe & Tube Co. (5457 JT): The company cut its full-year net-income forecast 14 percent to 1.8 billion yen, citing a lawsuit settlement. The stock climbed 1.7 percent to 669 yen.
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