Monday, December 26, 2011

Asia Stocks outlook december 27 2011

Asia Stocks outlook december 27 2011 : 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.

Hokkoku Bank Ltd. (8363 JT): The regional lender based in Ishikawa prefecture announced it will buy back as much as 1.5 percent of its shares for up to 1.55 billion yen ($20 million). The stock rose 0.4 percent to 268 yen.

Hua Nan Financial Holdings Co. (2880 TT): Hua Nan Commercial Bank plans to invest NT$1 billion to set up a leasing subsidiary, parent Hua Nan Financial said in a statement to Taiwan’s stock exchange. The stock fell 0.3 percent to NT$16.85.

King Yuan Electronics Co. (2449 TT): The Taiwanese company that provides testing services to semiconductor manufacturers plans to buy back 30 million common shares, or 2.45 percent of outstanding stock, from the open market, according to company statement to Taiwan stock exchange. The stock fell 0.7 percent to NT$9.61.

Olympus Corp. (7733 JT): The Japanese camera maker reeling from a $1.7 billion accounting fraud amended earnings reports initially filed Dec. 14 to correct mistakes including rounding errors. None of the revisions are significant, Yasutoshi Fujiwara, a spokesman for Tokyo-based Olympus, said by phone. The shares rose 0.8 percent to 1,026 yen.

Pollux Properties Ltd. (POLUX SP): The developer exercised an option to purchase a Singapore property for S$25 million ($19.3 million). The company plans to redevelop the site, according to a Dec. 23 statement. The stock last traded at 50 Singapore cents on Dec. 22.

Ssangyong Engineering & Construction Co. (012650 KS): Korea Asset Management will receive letters of intent to sell a 50.1 percent stake in Ssangyong Engineering by Jan. 27, according to a statement on Kamco’s website. The stock rose 0.6 percent to 7,020 won.

Takashimaya Co. (8233 JT): The department-store operator cut its net-income forecast 18 percent to 9 billion yen ($115 million) for the year ending Feb. 29, according to a statement. The stock rose 0.2 percent to 581 yen.

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