Monday, March 19, 2012

Asian stocks to watch march 20 2012

Asian stocks to watch march 20 2012 : Asian shares were mostly higher on Monday on the back of lingering optimism over the recovery in the global economy but the advances were tempered by US data that came in below expectations. Tokyo rose 0.12 percent, Shanghai added 0.23 percent, Sydney climbed 0.34 percent and Seoul won 0.62 percent. On the downside, Hong Kong shares closed 0.95 percent lower.

Global investors have grown bullish in recent weeks after Greece agreed a debt write-down with private creditors qualifying it for a bailout while the US has also provided weeks of good news that point to a brighter future.

The following companies may have unusual price changes in Asian trading tomorrow march 20 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.

China Shenhua Energy Co. (1088) (1088 HK): The coal-based energy company said its coal sales for February surged 63 percent to 42.6 million tonnes from a year earlier. The stock declined 1.8 percent to HK$34.95.

Hong Kong & China Gas Co. (3) (3 HK FA): The utility said profit for the year ended Dec. 31 rose 10 percent to HK$6.15 billion ($792 million) from a year earlier. The stock fell 0.9 percent to HK$19.58.

Phoenitron Holdings Ltd. (8066) (8066 HK): The smart cards maker said it expects “significant profit” for the year ended Dec. 31 from a year earlier on fair value gain. The stock fell 1.2 percent to 40 Hong Kong cents.

Sun Pharmaceutical Industries Ltd. (SUNP) : Shares of the Indian company, the most profitable generic drugmaker, were cut to hold from buy at Nirmal Bang Institutional Equities by analyst Praful Bohra. The price target is 596 rupees. The stock gained 1.8 percent to 555.45 rupees.

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