Cosco, Glencore, Sembcorp Marine, Toshiba: 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.
Casino stocks: Total visitors to Macau rose by 19 percent in January from a year earlier, according to Macau Statistics and Census Service. Visitors from China increased 23 percent, it said. Galaxy Entertainment Group Ltd. (27) (27 HK), an operator of casinos in Macau, added 0.1 percent to HK$18.88. Wynn Macau Ltd. (1128) (1128 HK), a unit of the casino operator founded by billionaire Steve Wynn, sank 4.4 percent to H $19.70.
Cosco Corp. Singapore Ltd. (COS) : The shipbuilding unit of China’s biggest shipping company said full-year net income declined 44 percent to S$139.7 million ($111 million). The stock dropped 3.9 percent to S$1.23.
Elpida Memory Inc. (6665) (6665 JT): The maker of semiconductors plans to double its common shares to 800 million to boost capital, according to the company’s statement. The stock jumped 13 percent to 349 yen.
Glencore International Plc (805) (805 HK): Exxaro Resources Ltd. (EXX SJ), a South African miner, said Glencore will pay 939 million rand ($122 million) for a controlling share in the Rosh Pinah zinc mine in Namibia. The Glencore rose 0.1 percent to HK$53.55.
Guotai Junan International Holdings Ltd. (1788) (1788 HK): The brokerage said net income for the year ended Dec. 31 rose 15 percent to HK$287.7 million ($37.1 million) from a year ago. The stock rose 5.8 percent to HK$2.54.
Housing Development Finance Corp. (HDFC) : Citigroup Inc. is selling its entire stake in India’s biggest mortage lender for as much as 102 billion rupees ($2.1 billion), a term sheet obtained by Bloomberg News shows. The bank is offering 145.3 million shares at between 630 rupees and 703.55 rupees apiece, the terms of the sale showed. The sale represents Citigroup’s remaining stake in HDFC, or 9.9 percent, the document showed. HDFC shares closed fell for a fourth straight day, losing less than 0.1 percent to 701.3 rupees.
Meisei Electric Co. (6709) (6709 JT): The maker of telephones and related parts cut its net-income forecast by 9.7 percent to 1.49 billion yen for the year ending on March 31, saying bad weather has delayed its reconstruction projects after the March 11 disasters. The stock added 3.2 percent to 97 yen.
Sega Sammy Holdings Inc. (6460) (6460 JT): Sega Sammy, a maker of video-game machines, agreed to buy Phoenix Resort K.K. from RHJ International SA for 400 million yen ($5 million) in cash. RHJ will also be reimbursed for 878 million yen in loans granted to Phoenix Resort. Sega Sammy gained 1.1 percent to 1,513 yen.
Singapore Technologies Engineering Ltd. (STE) : Asia’s No. 1 aircraft maintenance company said full-year net income increased 7 percent to S$527.5 million from the previous year. ST Engineering, as the company is known, added 0.7 percent to S$3.08.
Sembcorp Marine Ltd. (SMM) : The world’s second-largest builder oil platforms said fourth-quarter net income fell 4.3 percent from a year earlier to S$229 million. That exceeded the S$193.7 million average of 10 analysts’ estimates in a Bloomberg survey. The shares slid 1 percent to S$5.23.
Toshiba Corp. (6502) (6502 JT): The electronics maker said it will take $1 billion in loans to cope with the strong yen, according to a statement on its website. The company’s shares rose 0.6 percent to 343 yen.
To contact the editor responsible for this story: Nick Gentle at email@example.com