Japan's Nikkei 225 index ended down 0.1 per cent at 9,633.9, giving up gains posted earlier in the day. Hong Kong's Hang fell 0.8 per cent to 21,217.86. South Korea's Kospi lost 1.4 per cent to 1,991.16. Australia's S&P/ASX 200 dropped 0.9 per cent to 4,267.40.
The following companies may have unusual price changes in Asian trading tomorrow february 28 2012. 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.
Bank of Maharashtra Ltd. (BOMH IN): The Indian lender plans to raise funds selling up to 153.3 million shares to the government, and up to 24.1 million shares to the Life Insurance Corp. of India, at 56.09 rupees apiece, according to a filing. The stock slumped 3 percent to 51 rupees.
Elpida Memory Inc. (6665) (6665 JT): The maker of semiconductors will file for bankruptcy protection as soon as today, the Nikkei newspaper reported without saying where it got the information. Trading of Elpida’s shares was suspended after today’s close, the Tokyo Stock Exchange announced. The company had said it may not survive unless it secures financing to meet an April debt deadline. The stock rose 0.6 percent to 334 yen.
Golden Agri-Resources Ltd. (GGR) : The largest grower of palm fruit in Indonesia said fourth-quarter net income declined 36 percent from a year earlier to $747.8 million. That beat the $131.6 million average estimate of three analysts in a survey compiled by Bloomberg. The stock was unchanged at 75 Singapore cents.
Hang Seng Bank Ltd. (11) (11 HK): The Hong Kong lender, which is majority owned by HSBC Holdings Plc (HSBA) (5 HK), said profit jumped 12 percent last year to HK$16.7 billion ($2.15 billion) as higher lending income offset a slowdown in the city’s demand for borrowing during the second half. The stock slid 1.6 percent to HK$101.50.
HKT Trust and HKT Ltd. (6823 HK): The owner of Hong Kong’s biggest telecommunications operator said full-year profit rose 32 percent to HK$1.22 billion as mobile-phone revenue increased. The stock fell 2.2 percent to HK$5.31.
HSBC Holdings Plc (5) (5 HK): Europe’s largest bank by market value said full-year profit rose by 27 percent to $16.8 billion, boosted by an accounting gain on the revaluation of its own debt. That compared with the $16.5 billion median estimate of 24 analysts surveyed by Bloomberg. The stock fell 1.2 percent to HK$69.60.
Itochu Corp. (8001) (8001 JT): The Japanese trading firm bought as much as 55,000 metric tons of naphtha from Indian Oil Corp., said two traders who declined to be identified because they aren’t authorized to speak on the matter. The stock rose 0.1 percent to 924 yen.
Kansai Electric Power Co. (9503) (9503 JT): The utility said it expects a 253 billion yen loss for the fiscal year ending March 31, citing power supply and demand conditions. The company said it had earlier refrained from making forecasts because it was difficult to gauge the impact of idle of nuclear power plants. The stock fell 2.7 percent to 1,325 yen.
Olympus Corp. (7733) (7733 JT): The optical-equipment maker proposed an 11-member board to replace President Shuichi Takayama and other directors after an accounting scandal. Shareholders will vote in April on the nominees, which include Yasuyuki Kimoto, a former executive at creditor Sumitomo Mitsui Financial Group Inc. The shares slid 3.3 percent to 1,373 yen.
Sankyo Co. (6417) (6417 JT): The pachinko maker cut its net-income forecast by 24 percent to 16 billion yen for the year ending March 31, the firm said in a statement Sankyo cited losses from selling a stake in a group company for the change in outlook. The stock fell 0.3 percent to 3,885 yen.
Sembcorp Industries Ltd. (SCI) : The conglomerate that gets about 46 percent of revenue from utilities said fourth- quarter net income increased 10 percent from a year earlier to S$251.9 million ($200 million). That compares with the average estimate of S$194.5 million in Bloomberg analyst survey. The shares lost 0.6 percent to S$5.14.
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