Inpex, Midland, Sun Hung Kai: Asian Stocks Preview
The following companies may have unusual price changes in Asian trading on March 19. 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: Hong Kong’s home prices rose 1.8 percent in the seven days ended March 11 from the previous week, Centaline Property Agency said in an e-mailed statement.
Sun Hung Kai Properties Ltd. (16) (16 HK), the world’s biggest developer by market value, slid 0.3 percent to HK$117.60. Cheung Kong (Holdings) Ltd. (1 HK), controlled by billionaire Li Ka- shing, retreated 0.3 percent to HK$109.20.
Midland Holdings Ltd. (1200) (1200 HK): The Hong Kong-based residential property broker said profit for the year ended Dec. 31 plunged 75 percent to HK$134 million ($17.3 million) from a year earlier. The stock fell 1.4 percent to HK$4.39.
Inaba Seisakusho Co. (3421) (3421 JT): The maker of utility sheds and garages reported a loss of 202 million yen ($2.4 million) for the six months ended Jan. 31, the company said, citing a rise in copperplate prices. The result compared with a loss of 226 million yen a year earlier. The stock rose 0.4 percent to 995 yen.
Inpex Corp. (1662) (1605 JT): Japan’s No. 1 energy explorer will buy a 17.5 percent stake in Royal Dutch Shell Plc.’s Prelude liquefied natural gas project in Australia, Inpex said in a statement. The stock rose 0.4 percent to 575,000 yen.
Kansai Electric Power Co. (9503) (9503 JT): President Makoto Yagi said the utility will maintain its dividend payment for the year ending March 31. He declined to comment on dividend payments for the next fiscal year. The utility is also considering bond sales should it win approval to restart nuclear reactors closed following the Fukushima nuclear accident. The stock slid 0.1 percent to 1,388 yen.
Samsung Electro-Mechanics Co. (009150) (009150 KS): The company plans to buy Alphana Technology of Japan for 147.3 billion won ($131 million), according to a regulatory filing. The South Korean maker of electronic components added 0.9 percent to 98,500 won.
Tata Motors Ltd. (TTMT) : The nation’s biggest truckmaker said it will raise prices of commercial and passenger vehicles with immediate effect, according to a statement. Finance Minister Pranab Mukherjee announced plans to raise excise duty on cars in his budget speech to parliament today. The stock slid 1.3 percent to 286.7 rupees.
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