By Norie Kuboyama - Oct 30, 2011 11:00 AM GMT+0700
The following companies may have unusual price changes in Asian trading on October 31. 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.
China developers: Property prices in China’s major cities may decline 15 percent to 20 percent during the next 12 months, Goldman Sachs Group Inc. analyst Wang Yi said. Most of the declines will be in the first half of next year, with Chinese property prices not recovering until the second half of 2013, Wang said.
China Vanke Co. (000002 CH) gained 3.1 percent to 7.91 yuan. Poly Real Estate Group Co. (600048 CH) jumped 4.4 percent to 10.17 yuan. Gemdale Corp. (600383) (600383 CH) climbed 4.9 percent to 5.14 yuan.
Hong Kong developers: Home prices in the city fell 0.36 percent in the seven days ended Oct. 23 from a week earlier, according to Centaline Property Agency Ltd. The Centa-City Leading Index, an indicator of housing prices in the city, dropped to 98.16, Centaline said in an e-mailed statement.
Sun Hung Kai Properties Ltd. (16) (16 HK), the world’s biggest developer by market value, rose 3.3 percent to HK$109.60. Cheung Kong (Holdings) Ltd. (1 HK), controlled by billionaire Li Ka- shing, advanced 2.8 percent to HK$98.15.
Acer Inc. (2353) (2353 TT): The world’s fourth-largest computer maker expects to ship 250,000 to 300,000 of its Ultrabook slim notebooks this quarter, and targets sales of 2 million to 2.5 million tablets for the year, according to President Jim Wong. The stock advanced 0.7 percent to NT$35.40.
All Nippon Airways Co. (9202 JT): Japan’s largest-listed carrier, said net income in the six months ended Sept. 30 jumped 72 percent to 22.9 billion yen ($301 million). The airline cut its full-year sales forecast about 1 percent. All Nippon also said it aims to deepen planned cost cuts this fiscal year by 1 billion yen to compensate for an expected decline in sales. The stock rose 0.4 percent to 237 yen.
Angang Steel Co. (347 HK): The largest Hong Kong-listed Chinese steelmaker, said it returned to a profit in the third quarter after provisions made for inventory losses declined. The stock dropped 2.6 percent to HK$4.95.
Astellas Pharma Inc. (4503) (4503 JT): Net income at the drugmaker in the six months ended Sept. 30 amounted to 51.3 billion yen, beating its outlook by 32 percent, on growing revenue from its immunosuppressants in Europe and from bladder drugs globally, according to a preliminary earnings statement, The stock gained 2.2 percent to 2,903 yen.
BYD Co. (1211 HK): The Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc. said full-year net income may drop by between 35 percent and 65 percent as car sales and solar-product sales slow. BYD slipped 1.4 percent to HK$17.58.
China Merchants Bank Co. (3968 HK): The lender said third- quarter profit climbed 33 percent to 9.79 billion yuan from a year earlier on higher lending and fee income. The stock jumped 5.5 percent to HK$16.92.
China Oilfield Services Ltd. (2883) (2883 HK): The drilling services provider said third-quarter net income rose 3.8 percent from a year earlier to 1.3 billion yuan. The stock declined 1.3 percent to HK$13.40.
Chubu Electric Power Co. (9502 JT): The utility swung to a net loss of 19 billion yen in the six months ended Sept. 30 from a year-earlier gain, narrower than its loss estimate of 22 billion yen thanks to lower fuel and repair costs, the company said in a release. The stock slipped 1.2 percent to 1,431 yen.
Cycle & Carriage Bintang Bhd. (CNCB) : The Malaysian automotive distributor’s third-quarter net income fell 38 percent from a year earlier to 5.93 million ringgit, according to a company statement. The stock gained 3.1 percent to 3.37 ringgit.
Daio Paper Corp. (3880) (3880 JT): The papermaker plans to file a criminal complaint against former chairman Mototaka Ikawa after an investigation revealed the executive received 10.7 billion yen in loans from subsidiaries, according to a statement from the company. The stock climbed 1.3 percent to 610 yen.
Daiwa Securities Group Inc. (8601) (8601 JT): Japan’s second- largest brokerage posted a third straight quarterly loss and said it will cut more than 300 jobs overseas as trading and investment banking income declined. The loss widened to 19.4 billion yen in the three months ended Sept. 30 from 4.2 billion yen a year earlier, Daiwa said in a statement. The stock fell 1 percent to 286 yen.
Minmetals Resources Ltd. (1208) (1208 HK): The copper and zinc miner could spend as much as $7 billion on its next acquisition to add nickel, bauxite or alumina production, said Chief Financial Officer David Lamont. The stock gained 1.8 percent to HK$3.99.
NGK Insulators Ltd. (5333) (5333 JT): The maker of electrical insulators and industrial ceramic products declined to offer a net income forecast for the full year because of uncertainty about costs stemming from accidents attributed to some of the batteries it produces. The company lowered its operating profit projection 20 percent to 24 billion yen for the fiscal year ending March. The stock rose 2.6 percent to 979 yen.
Orient Corp. (8585) (8585 JT), Ohtori Corp. (3411) (3411 JO): Orient, a consumer credit company, offered to pay as much as 1.3 billion yen to buy out Ohtori through a tender offer. Orient gained 2.6 percent to 78 yen. Ohtori, an outsourcing service provider for a credit card company, dropped 2.9 percent to 34 yen.
Ricoh Co. (7752 JT): The office-equipment and camera maker slashed its full-year net income outlook 55 percent to 10 billion yen, citing costs from the company reorganization, earthquake and foreign exchange. The stock lost 1.7 percent to 681 yen.
Sanrio Co. (8136 JT): The maker of Hello Kitty character goods boosted its net income forecast 9.2 percent to 13 billion yen in the fiscal year ending March 31. Also, the company increased its planned second-half dividend to 20 yen from 15 yen. The stock fell 2.1 percent to 3,735 yen.
SIA Engineering Co. (SIE SP): The aircraft maintenance unit of Singapore Airlines Ltd. (SIA SP) said second-quarter net income rose 7.1 percent from a year earlier to S$71.2 million ($57.3 million). The shares added 0.5 percent to S$3.72.
SMRT Corp. (MRT SP): Singapore’s biggest commuter train operator said second-quarter net income fell 26 percent from a year earlier to S$34.1 million. SMRT gained 2.2 percent to S$1.89.
Sumitomo Electric Industries Ltd. (5802) (5802 JT): The wire maker said net income in the six months ended Sept. 30 fell 54 percent to 19.1 billion yen. The result was 47 percent more than the company’s profit estimate due to a demand recovery from car- related companies, Sumitomo Electric said in a release. The stock rose 0.7 percent to 887 yen.
Tenaga Nasional Bhd. (TNB) : Malaysia’s biggest power producer, posted a second straight quarter of losses as higher fuel costs eroded margins. Net loss stood at 453.9 million ringgit ($148 million) in the fiscal fourth quarter ended Aug. 31, compared with a net income of 555.2 million ringgit a year earlier, the utility said in a statement.
Tokyo Electron Ltd. (8035) (8035 JT): The world’s second-largest maker of semiconductor equipment boosted its full-year net income projection 18 percent to 40 billion yen, citing cost cuts. The stock advanced 1.8 percent to 4,360 yen.
To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net
To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net
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