Anritsu Corp., China Unicom, ONGC, Toyota: 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.
Utilities: A government body deliberating on Japan’s energy supply after the Fukushima disaster proposed four scenarios including one to go nuclear free and derive about 35 percent of power from renewable sources by 2030. Tokyo Electric Power Co. (9501) (9501 JT), the owner of the crippled Fukushima Dai-Ichi nuclear power plant, rose 0.7 percent to 153 yen. Kansai Electric Power Co. (9503) (9503 JT) slid 1.8 percent to 1,071 yen.
Anritsu Corp. (6754) (6754 JT): The maker of testing instruments was rated new “overweight” at JPMorgan by equity analyst Yoshiharu Izumi. The six-month target price is 1,150 yen per share. The stock rose 4.8 percent to 858 yen.
China Unicom (762) (Hong Kong) Ltd. (762 HK FA PROD Product Segmentation): China Unicom President Lu Yimin said average user spending may fall this year. China Unicom, the nation’s second-largest mobile phone company, rose 0.7 percent to HK$11.16.
Goldbond Group Holdings Ltd. (172) (172 HK FA Financial Analysis): The Hong Kong-based financial services provider said it expects “significant increase” in profit for the year ended March 31 from a year earlier. The stock gained 1.6 percent to 32.5 Hong Kong cents.
Olam International Ltd. (OLAM) , the supplier of farm commodities part-owned by Temasek Holdings Pte, said it agreed to buy a sugar mill in Brazil from Usina Acucareira Passos SA for $128.8 million. The Singapore-based company said it will invest an additional $111.5 over the next five years to boost the mill’s output. The shares rose 1.8 percent to S$1.695.
Oil & Natural Gas Corp. (ONGC) : India’s largest explorer posted fourth-quarter profit of 56.4 billion rupees, exceeding the 44.2-billion rupee median estimate in a Bloomberg survey of 34 analysts. Shares rose 1 percent to 256.4 rupees.
Ryoyo Electro Corp. (8068) (8068 JT): The wholesaler of electronic components reported a net income of 223 million yen ($2.8 million) for the three months ended April 30, the company said in a statement, citing high oil prices and economic slowdowns overseas. That’s 37 percent down from the same period a year earlier. The stock gained 0.6 percent to 825 yen.
Shoei Co. (3003 JT): The real estate firm said 15 employees applied for buyouts, according to a statement. The stock added 2.8 percent to 298 yen.
Toshiba Corp. (6502) (6502 JT): The electronics maker plans to buy a 34 percent stake in South Korea’s Unison Co., which makes wind turbines, for 84.3 billion won ($71.9 million), according to a statement. Separately, the Japanese company will partner Russia’s Power Machines in a venture to design, manufacture and sell transformers. The stock added 0.7 percent to 302 yen.
Toyota Motor Corp. (7203) (7203 JT): The carmaker’s Turkish headquarters denied allegations by former workers that it discriminates against employees because they exercise Islamic beliefs, the Zaman newspaper reported. The stock rose 0.3 percent to 3,080 yen.
Tata Motors Ltd. (TTMT) : India’s largest automaker posted a record profit of 62.3 billion rupees for the quarter ended March 31, beating the 38.2 billion-rupee median estimate of 40 analysts in a Bloomberg survey. Shares slid 0.3 percent to 275.75 rupees.
Sun Pharmaceutical Industries Ltd. (SUNP) : The Mumbai- based drugmaker reported fourth-quarter profit that almost doubled to 8.2 billion rupees from 4.43 billion rupees last year. That exceeded the 6.61-billion rupee median estimate in a Bloomberg survey of 35 analysts. Shares fell 0.7 percent to 565.75 rupees.
To contact the editor responsible for this story: Nick Gentle at email@example.com