Alibaba, HMC, Japan Tobacco, Nippon Steel: Asia 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.
All Nippon Airways Co. (9202) (9202 JP): the carrier posted profit of 28 billion yen ($346 million) for the year through March, beating the average analyst estimate of 20.9 billion yen. The shares slipped 1.3 percent to 222 yen.
Alibaba.com Ltd. (1688) (1688 HK): The unit of China’s biggest e- commerce company that’s under a privatization offer, said first- quarter profit fell 25 percent to 339.2 million yuan ($54 million) from a year ago. The stock was unchanged at HK$13.30.
Hokkai Electrical Construction Co. (1832 JS): The builder of power transmission lines reported 190 million yen in net income, lower than its forecast of 300 million yen for the year ended on March 31, according to a preliminary earnings statement. The stock was unchanged at 362 yen. Parent Hokkaido Electric Power Co. fell 3.4 percent to 1,165 yen.
HMC Investment Securities Co. (001500 KS): The South Korean brokerage denied a report that the company is reviewing a plan to buy Kumho Investment Bank (010050 KS). HMC Investment gained 1.8 percent to 14,050 won.
Japan Tobacco Inc. (2914) (2914 JT): The company said it will apply this fiscal year to market its chronic kidney disease medication in Japan based on the results of a recently completed study. Shares slid 1.2 percent to 451,000 yen.
Kyocera Corp. (6971) (6971 JT): The company said it will begin construction in June of a $250 million factory to produce mobile phones and electronic components in Vietnam’s Hung Yen province, according to a report from Dau Tu newspaper. The stock rose 1.9 percent to 7,440 yen.
Nippon Steel Corp. (5401) (5401 JP): Moody’s Investors Service cut the steelmaker’s senior unsecured debt rating to A2 from A3, citing an increase in leverage due to the proposed merger with Sumitomo Metal Industries Ltd. (5802 JP). Nippon Steel was unchanged at 202 yen, while Sumitomo Electric fell 0.1 percent to 1,106 yen.
Samsung Life Insurance Co. (032830) (032830 KS): The company plans to buy back 3 million shares to stabilize its stock price, according to a regulatory filing. The South Korean life insurer added 0.5 percent to 97,500 won.
Samsonite International SA (1910) (1910 HK): The luggage maker said net sales for the three months ended March 31 rose 15 percent to $403.7 million from a year earlier. The stock rose 0.5 percent to HK$15.72.
Yonekyu Corp. (2290) (2290 JT): The producer of deli meats said it will spend as much as 1 billion yen to buy back up to 5.6 percent of its shares. The stock fell 0.1 percent to 704 yen.
To contact the editor responsible for this story: Darren Boey at email@example.com