China NT, Elpida, Hutchison Telecom: Asia Stocks Preview
The following companies may have unusual price changes in Asian trading on March 21. 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.
China NT Pharma Group Co. (1011) (1011 HK): The drugmaker said net profit for the year ended Dec. 31 rose 82 percent to 234 million yuan ($37 million) from a year earlier. The stock rose 0.8 percent to HK$1.32
Elpida Memory Inc. (6665) (6665 JT): The maker of dynamic random access memory products plans to select a sponsor in May, the Nikkei newspaper said, without attribution. Micron Technology Inc. is expected to make an offer, the newspaper said. The stock was unchanged at 2 yen.
Hutchison Telecommunications Hong Kong Holdings Ltd. (215) (215 HK): The fixed-line telecommunications operator said profit for the year ended Dec. 31 rose 35 percent to HK$1.02 billion ($131 million) from a year earlier. The stock gained 0.6 percent to HK$3.37.
Mitsubishi Motors Corp. (7211) (7211 JT): The automaker will double production at its Illinois plant to 70,000 units annually as the company begins exports of the Outlander sport-utility vehicle, the Nikkei newspaper said. The company plans to start Outlander production at the plant in the middle of this year, it said. The stock was unchanged at 96 yen.
Fuji Electric Co. (6504) (6504 JT): The electric machinery maker won a 10 billion-yen ($120 million) order to supply Emirates Aluminium Co. with equipment for an aluminum smelting plant, the Nikkei newspaper reported, without attribution. The stock gained 1 percent to 209 yen.
Showa Shell Sekiyu KK (5002) (5002 JT): Iran and its largest oil customer in Japan, Showa Shell Sekiyu, are discussing a new agreement for the purchase of crude from the Persian Gulf state, the state-run Fars news agency reported, without citing anyone. The stock gained 0.2 percent to 543 yen.
Mitsui OSK Lines Ltd. (9104) (9104 JT): Queiroz Galvao SA and Camargo Correa SA are in talks with Mitsui OSK and Mitsubishi Heavy Industries Ltd. to sell a stake in Estaleiro Atlantico Sul SA, Valor Economico reported, citing a person it didn’t identify. They may seek to sell about 30 percent of the Brazilian shipyard, according to the Sao Paulo-based newspaper. The stock lost 0.5 percent to 381 yen.
Nisshin Steel Co. (5407) (5407 JT): The smallest of Japan’s five blast-furnace mills and Nippon Metal Industry Co. (5479 JT) agreed to merge and create a bigger stainless-steel producer to compete with overseas rivals, the companies said. Nisshin Steel was unchanged at 145 yen. Nippon Metal Industry was unchanged at 76 yen.
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