Advantest, Moresco, NHK Spring, Tokyo Dome: Asia Stocks Preview
The following companies may have unusual price changes in Asian trading on Feb. 27. 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.
Hong Kong developers: The city’s new loans approved in January fell 3.8 percent from the previous month to HK$10 billion ($1.3 billion), while new mortgage loans drawn down declined 32 percent, the Hong Kong Monetary Authority said in a statement today. Sun Hung Kai Properties Ltd. (16) (16 HK), the world’s biggest developer by market value, slid 0.1 percent to HK$119.40. Cheung Kong (Holdings) Ltd. (1) (1 HK), controlled by billionaire Li Ka-shing, sank 0.4 percent to HK$111.
Advantest Corp. (6857) (6857 JT): The company disclosed that it had placed about 8 percent, or 1.7 billion yen ($21 million) with AIJ Investment Advisors Co. The money manager was today ordered to halt operations after a report it lost 183.2 billion yen of clients’ pension funds. The maker of memory-chip testers rose 0.8 percent to 1,118 yen.
Moresco Corp. (5018) (5018 JT): The hot-melt adhesives manufacturer cut its net-income forecast by 28 percent to 720 million yen ($8.9 million) for the year ending Feb. 29, according to a statement. Moresco cited a sales drop among automakers due to a strong yen, Thai flooding and Europe’s debt crisis. Shares fell 2.5 percent to 933 yen.
NHK Spring Co. (5991) (5991 JT): The maker of springs for cars and electronic equipment plans to sell 2 million Treasury shares to Isuzu Motors Ltd. to raise 1.71 billion yen, according to a filing with the finance ministry. The stock dropped 0.5 percent to 850 yen.
Playmates Toys Ltd. (869) (869 HK): The toys distributor said it expects a loss for the year ended in December1 similar to the previous year’s loss. New product launches starting in second half of this year are expected to have a positive impact on the company, it said. The stock rose 1.1 percent to 44.5 Hong Kong cents.
Tokyo Dome Corp. (9681) (9681 JT): The stadium operator and hotelier said it had preliminary net profit of 300 million yen for the year ended on Jan. 31 after earlier projecting a loss, citing high hotel occupancy and cost cuts. Shares were unchanged at 218 yen.
Uchida Yoko Co. (8057) (8057 JT): The office-equipment trader said it will not post a profit for the year ending July 20 after earlier forecasting net income of 100 million yen, according to a statement. The company cited a delay in post-quake construction projects for the change in outlook. The stock gained 2.9 percent to 320 yen.
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