ACC, Bauhaus, Sumitomo Mitsui Financial: 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.
Indian Cement Makers: ACC Ltd. (ACC) , Ambuja Cements Ltd. (ACEM IN) were among producers of the building material to be fined by the Competition Commission of India for violating anti-competitive agreements, including forming cartels, the corporate affairs ministry said. ACC dropped 1.4 percent to 1,253.7 rupees and Ambuja lost 2.1 percent to 172 rupees.
Bauhaus International (Holdings) Ltd. (483) (483 HK): The apparel retailer said profit for the year ended March 31 dropped 34 percent to HK$75.9 million ($9.78 million) from a year earlier. The stock rose 6.2 percent to HK$2.05.
Mizuno Corp. (8022) (8022 JT): The sporting-goods company will buy privately held Senoh for 8 billion yen ($100 million), Mizuno said in a statement. The shares gained 0.2 percent to 416 yen.
Nidec Corp. (6594) (6594 JO): The precision-motor maker will spend $40 million to build a factory in Vietnam, the company said in a statement. The shares fell 0.8 percent to 6,620 yen.
Tai Cheung Holdings Ltd. (88) (88 HK): The property developer said profit for the year ended March 31 rose 5 percent to HK$737.9 million from a year earlier. The stock climbed 0.9 percent to HK$5.35.
Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT): The company’s lending unit fired a senior banker amid a government investigation into insider trading, two people with knowledge of the matter said. The shares added 0.1 percent to 2,539 yen.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org