Agricultural Bank, Nomura, Olympus: 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.
Agricultural Bank of China Ltd. (1288 HK): China will allow more branches of the nation’s third-biggest lender by market value to have lower reserve ratios to boost rural lending, according to a statement posted on the central bank’s website. The stock was unchanged at HK$3.56.
Nomura Holdings Inc. (8604) (8604 JT): The company, Japan’s largest brokerage, said it’s fully cooperating with investigators on a probe into insider-trading involving Chuo Mitsui Asset Trust & Banking Co. Nomura sank 4.1 percent to 396 yen.
NTPC Ltd. (NTPC) (NTPC IN): India’s biggest power generator was rated new buy at Finquest by equity analyst Daryl Philip, with a price estimate of 210 rupees per share. Shares gained 1.5 percent to 175.8 rupees.
Olympus Corp. (7733) (7733 JT): Southeastern Asset Management Inc., Harris Associates LP and seven other Olympus shareholders called for more independent nominees for the Japanese company’s new board, according to a joint statement from the investors. Olympus dropped 2.1 percent to 1,307 yen.
Seiko Epson Corp. (6724) (6724 JT): The stock was raised to hold from reduce by Kunihiko Kanno, an analyst at BNP Paribas SA. The 12-month target price is 1,300 yen per share. The shares fell 2.1 percent to 1,210 yen.
Suzlon Energy Ltd. (SUEL) : The Indian wind-turbine maker denied a report on Manager Magazin today that the company’s German unit Repower Systems SE plans to become publicly traded again by returning to the stock exchange in May or June. “Our position remains unchanged,” Suzlon said in an e- mailed response to questions from Bloomberg News. “These are totally speculative reports.” The stock rallied 5.8 percent to 29.15 rupees.
Shui On Land Ltd. (272) (272 HK): The developer of residential and office properties said profit for the year ended Dec. 31 rose 22 percent to 3.43 billion yuan ($543 million). The stock fell 0.3 percent to HK$3.02.
Yuexiu Transport Infrastructure Ltd. (1052) (1052 HK): The operator of highways and bridges in China said profit for the year ended Dec. 31 rose 4.4 percent to 558 million yuan from a year earlier. The stock gained 0.3 percent to HK$3.54.
To contact the editor responsible for this story: Darren Boey at email@example.com