Cnooc, HTC, ING Vysya, Nikon, Yahoo Japan: 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.
Cnooc Ltd. (883) (883 HK): China’s biggest offshore energy explorer said sales for the three months ended March 31 rose 3.7 percent to 48.8 billion yuan ($7.7 billion). Output fell 6.3 percent from a year earlier to 79.8 million barrels of oil equivalent, it said. The stock fell 0.3 percent to HK$15.96.
Chukyo Bank Ltd. (8530) (8530 JT): The lender reported net income of 1.85 billion yen ($22.8 million) for the year ended March compared with a forecast of 1.5 billion yen, according to a preliminary earnings statement. The bank cited a lower-than- expected tax burden for the results. That stock fell 1 percent to 193 yen.
Daiki Aluminium Industry Co. (5702) (5702 JT): The company reported net income of 1.02 billion yen, beating its forecast of 790 million, for the year ended March, according to a preliminary earnings statement. Improvement in a price gap between materials and products drove up profit, the company said. The stock gained 2.4 percent to 260 yen.
Fumakilla Ltd. (4998) (4998 JT): The maker of pesticides and insecticides reported a loss of 838 million yen for the year ended March 31, according to a preliminary earnings statement, citing sliding sales at subsidiaries. That company earlier forecast a loss of 630 million yen. The stock slid 0.9 percent to 316 yen.
Huadian Power International Corp. (1071) (1071 HK): The power producer said net profit for the first quarter was 201 million yuan. The stock rose 1.1 percent to HK$1.78.
HTC Corp. (2498) (2498 TT): Asia’s second-largest smartphone maker forecast its highest revenue in three quarters. Sales in the second quarter will be about NT$105 billion ($3.6 billion), the Taoyuan, the company said in a statement yesterday. Revenue was expected to be NT$106 billion, according to the average of 22 analyst estimates compiled by Bloomberg. The stock advanced 1.2 percent to NT$478.50.
ING Vysya Bank Ltd. (VYSB) : The lender’s fourth-quarter profit climbed 24 percent from a year earlier to 1.5 billion rupees, according to an exchange filing. That beat a median estimate of 1.21 billion rupees in a Bloomberg News survey of eight analysts. Shares climbed 2 percent to 374.15 rupees.
Kameda Seika Co. Ltd. (2220) (2220 JT): The rice-cookie maker raised its full-year dividend forecast to 13 yen from 11 yen. The stock gained 1.9 percent to 1,799 yen.
LG Display Co. (034220) (034220 KS): The world’s second-largest maker of liquid-crystal displays posted a wider-than-estimated first-quarter loss after television demand slowed. The net loss was 129.2 billion won ($113 million) in the three months ended in March, according to a statement. That compares with a 124.6 billion won loss average of 23 analysts’ estimates compiled by Bloomberg. The shares fell 0.9 percent to 26,350 won.
Nidec Corp. (6594) (6594 JO): The world’s leading manufacturer of hard-disk drive motors said net income fell 22 percent on flat sales in the year ended March 31. The company announced separately that it would seek to buy out Nidec Sankyo Corp., of which it holds a 75 percent stake. The parent’s shares climbed 0.5 percent to 7,510 yen.
Nikon Corp. (7731) (7731 JT): The camera maker recalled batteries made by Sony Corp. (6758 JT) used in digital cameras on concern they might overheat, a Nikon spokeswoman said. The companies haven’t decided how to split recall costs, Sony said. Nikon added 1.2 percent to 2,336 yen, while Sony fell 1.7 percent to 1,330 yen.
Seiko Holdings Corp. (8050) (8050 JT): The clock maker said 522 workers at one of its units took a buyout offer, for which it will book a 3.1 billion yen charge. The stock added 2.5 percent to 208 yen.
Shikoku Electric Power Co. (9507 JT): The utility reported a loss of 9.3 billion yen, lower than its forecast of 11 billion for the year ended March, according to a preliminary earnings statement that cited cost-cutting measures. The stock rose 1.9 percent to 2,152 yen.
Yahoo Japan Corp. (4689) (4689 JT): Toshiki Ohya, Yahoo Japan’s chief financial officer, said talks to sell a 35 percent stake to U.S.-based Yahoo Inc. have stalled. Yahoo Japan’s shares climbed 1.7 percent to 440 yen.
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