Hong Kong stock market closed 8/20/2012 : Shanghai shares on Aug. 20 tumbled to a more than three-year low in weak trade, dragged by Chinese property counters over worries that an upturn in housing prices may lead to a fresh set of curbs on the sector.
Sentiment was further weakened after a newspaper run by the Chinese central bank reported that the resumption of the 14-day reverse repo transactions Aug. 16 suggests that it had no intention of cutting the reserve requirements in the short term.
Weakness in mainland markets weighed on Hong Kong, with both markets underperforming Asian peers. The Hang Seng Index closed down 0.8 percent at 19,964.8 at midday, dipping below the 20,000 mark for only the second time in more than two weeks.
The CSI300 of the top Shanghai and Shenzhen listings fell 1.1 percent to its lowest since Jan. 9. The Shanghai Composite Index slipped 0.9 percent to 2,096.5, the lowest since March 2009.
"It's the case of the Monday blues," said Jackson Wong, vice-president for equity sales at Tanrich Securities.
"Mainland investors are definitely more sensitive to the housing prices, although I think the latest monthly increase is more an effect of interest rate cuts," he added.
Data over the weekend showed China's home prices rose 0.1 percent in July from June, a second month of modest uptick that raises the risk Beijing may seek to bolster a two-year campaign to curb housing inflation but which also weighs on the wider economy.
The state-run Shanghai Securities Journal reported on Aug. 20 that Beijing could move to expand a property tax pilot to include more cities or adjust pre-sales requirements for property transactions.
Shanghai-listed Poly Real Estate dived 3.4 percent to its lowest since April. It is still up 19.8 percent this year to date, but has lost more than 15 percent since July 18, when data showed housing prices in China rose for the first time in nine months.
In Hong Kong, Chinese property developers rose.
China Overseas Land edged up 0.3 percent, while China Resources Land, which posted favorable first half earnings after markets closed on Aug. 17, rose 1.1 percent.
In a report on Aug. 20, Goldman Sachs analysts said overall earnings was flat year on year, excluding financials, from the 24 MSCI China companies that posted first half corporate earnings as of Aug. 17, representing 24 percent of market cap. Including financials, overall earnings declined by 1 percent.
"First half earnings so far have reached 46 percent of annual consensus forecasts, weaker than the 53 percent achieved in the first half last year," they said in the same report.
Chinese instant noodle producer Tingyi Holdings rose 0.6 percent ahead of its first half earnings. At the midday trading break, Tingyi posted a less than expected 24 percent rise in first half net profit.
Tingyi is down more than 15 percent in 2012 and is currently trading at 25 times forward 12-month earnings, a 2.8 percent premium to its historical median, according to Thomson Reuters StarMine.
Six of 32 analysts have downgraded their full year earnings-per-share estimates for Tingyi by an average of 10.5 percent in the last 30 days, according to StarMine.
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Showing posts with label Hong Kong Stocks. Show all posts
Showing posts with label Hong Kong Stocks. Show all posts
Monday, August 20, 2012
Saturday, August 18, 2012
South Korean stocks outlook week august 20-24 2012
South Korean stocks outlook week august 20-24 2012 : South Korean stocks are expected to level off next week on rally fatigue from the latest sessions, moving in a stable terrain, as there are no apparent drivers to spur the market, analyst said Saturday.
The benchmark Korea Composite Stock Price Index (KOSPI) finished at 1,946.40 this week, up 0.14 points from a week earlier, as a large inflow led by foreign and program buying pushed up the key index to near the 1,950 mark on Tuesday.
Offshore investors snapped up a combined net 1.36 trillion won (US$1.19 billion), while institutional and retail investors sold off a net 370 billion and a net 936 billion won, respectively.
The main bourse got off to a weak start earlier in the week, dented by downbeat economic data in China and Japan, before rebounding in later sessions on the back of positive numbers in some U.S. indexes. It lost ground on Friday, however, as top-cap Samsung Electronics Co. tumbled more than 3 percent.
The KOSPI was closed on Wednesday for the country's Liberation Day.
Market watchers said the Seoul bourse will likely be influenced by what the U.S. Federal Reserve's minutes on its monetary policy meeting say about the global economy. Lingering hopes for a third round of a quantitative easing by the Fed have remained as a potential boost factor for upward momentum, they said.
"Investors are most likely to take a pause, capping the KOSPI in a technical correction," said Lee Seung-woo, an analyst at KDB Daewoo Securities Co.
A number of economic data releases in global markets are slated for next week, with housing-related data and durable goods orders in the U.S. and China's purchasing managers index.
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The benchmark Korea Composite Stock Price Index (KOSPI) finished at 1,946.40 this week, up 0.14 points from a week earlier, as a large inflow led by foreign and program buying pushed up the key index to near the 1,950 mark on Tuesday.
Offshore investors snapped up a combined net 1.36 trillion won (US$1.19 billion), while institutional and retail investors sold off a net 370 billion and a net 936 billion won, respectively.
The main bourse got off to a weak start earlier in the week, dented by downbeat economic data in China and Japan, before rebounding in later sessions on the back of positive numbers in some U.S. indexes. It lost ground on Friday, however, as top-cap Samsung Electronics Co. tumbled more than 3 percent.
The KOSPI was closed on Wednesday for the country's Liberation Day.
Market watchers said the Seoul bourse will likely be influenced by what the U.S. Federal Reserve's minutes on its monetary policy meeting say about the global economy. Lingering hopes for a third round of a quantitative easing by the Fed have remained as a potential boost factor for upward momentum, they said.
"Investors are most likely to take a pause, capping the KOSPI in a technical correction," said Lee Seung-woo, an analyst at KDB Daewoo Securities Co.
A number of economic data releases in global markets are slated for next week, with housing-related data and durable goods orders in the U.S. and China's purchasing managers index.
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Saturday, July 14, 2012
Kospi Stock prices prediction week july 16-20 2012
Kospi Stock prices prediction week july 16-20 2012 : South Korean stocks are expected to move upward next week, trying to make up for the sharp losses seen in the last seven days. The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 3.2 percent from a week earlier to finish at 1,812.89 this week, as investors opted to sell off shares on disappointing U.S. employment data and a hike in borrowing costs for Spanish debts.
The main index plunged as low as the 1,780 mark on Thursday after the central bank lowered its key rate for the first time in more than three years to 3.00 percent, amplifying concern over further economic downturn.
The KOSPI bounced back to the psychological support level of 1,800 on Friday, relieved by China's growth for the second quarter, which was in line with the market's expectations.
Next week, Seoul shares will likely seek to rebound, but chances for a rally will largely depend on external conditions rather than domestic issues, analysts said.
Investors will be eyeing the congressional hearings of Federal Reserve chief Ben Bernanke and a spate of U.S.-based multinational companies' earnings to be announced next week.
It is widely expected that Bernanke will not bring up the possibility of another round of quantitative easing. The earnings reports, including those from Coca-Cola Company, American Express and Microsoft, are forecast to drive stocks.
"The KOSPI won't likely fall further next week mainly because markets are discouraged enough by policies and recession woes, Foreigners and institutional investors offloaded a net 980.0 billion won (US$848.7 million), while retail investors scooped up shares worth a net 1.1 trillion won.
Most sectors traded in negative territory, with machineries slumping 6 percent, and construction and retail issues down more than 5 percent
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The main index plunged as low as the 1,780 mark on Thursday after the central bank lowered its key rate for the first time in more than three years to 3.00 percent, amplifying concern over further economic downturn.
The KOSPI bounced back to the psychological support level of 1,800 on Friday, relieved by China's growth for the second quarter, which was in line with the market's expectations.
Next week, Seoul shares will likely seek to rebound, but chances for a rally will largely depend on external conditions rather than domestic issues, analysts said.
Investors will be eyeing the congressional hearings of Federal Reserve chief Ben Bernanke and a spate of U.S.-based multinational companies' earnings to be announced next week.
It is widely expected that Bernanke will not bring up the possibility of another round of quantitative easing. The earnings reports, including those from Coca-Cola Company, American Express and Microsoft, are forecast to drive stocks.
"The KOSPI won't likely fall further next week mainly because markets are discouraged enough by policies and recession woes, Foreigners and institutional investors offloaded a net 980.0 billion won (US$848.7 million), while retail investors scooped up shares worth a net 1.1 trillion won.
Most sectors traded in negative territory, with machineries slumping 6 percent, and construction and retail issues down more than 5 percent
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Saturday, March 31, 2012
South Korean stocks Kospi outlook week april 2-6 2012
South Korean stock Kospi outlook week april 2-6 2012 : South Korean stocks are likely to be locked in range-bound trading next week as investors step to the sidelines amid growing market uncertainty, analysts said Saturday. The country's key stock index, the KOSPI, closed at 2,014.04 on Friday, down 0.02 percent, but posted its largest quarterly gain for the January-March period.
"For the time being, the local stock market will stay in a tight range as there are neither positive nor negative factors that significantly affect investor sentiment," said Lee Seung-woo, an analyst at Daewoo Securities.
Analysts said a series of economic data to be released in the U.S. may show the world's largest economy on a recovery track, helping boost investor sentiment here.
However, investors may worry about the lingering debt problem in the eurozone.
Standard & Poor's said earlier this week Greece may have to restructure its debt again, and market speculation is rising that Spain may be the next bailout candidate, according to analysts.
Meanwhile, the Dow Jones industrial average index rose Friday on hopes of a U.S. economic recovery, adding 0.50 percent to end at 13,212.04.
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"For the time being, the local stock market will stay in a tight range as there are neither positive nor negative factors that significantly affect investor sentiment," said Lee Seung-woo, an analyst at Daewoo Securities.
Analysts said a series of economic data to be released in the U.S. may show the world's largest economy on a recovery track, helping boost investor sentiment here.
However, investors may worry about the lingering debt problem in the eurozone.
Standard & Poor's said earlier this week Greece may have to restructure its debt again, and market speculation is rising that Spain may be the next bailout candidate, according to analysts.
Meanwhile, the Dow Jones industrial average index rose Friday on hopes of a U.S. economic recovery, adding 0.50 percent to end at 13,212.04.
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Wednesday, March 21, 2012
Taiwan stock market forecast 2012-2013
Taiwan stock market forecast 2012-2013 : HSBC Securities expressed optimism Wednesday about Taiwan's stock market outlook, citing strong cash flows, political stability and new technology products.
The outlook for Taiwan's downstream electronics hardware companies, retail consumer stocks, and financial sector is bullish over the next six to 12 months, said Jenny Lai, head of the research department at HSBC Securities (Taiwan) Co., at a press conference.
Lai projected that with the political situation in the country now stable after the recent elections, the government might expedite the policy of allowing Chinese investment in Taiwan that could help boost the stock market.
In terms of cash flows, Lai was also optimistic that foreign capital would continue to enter the market, saying that only one third of the US$11 billion in foreign investors' net sales at local stock market in the third quarter of 2011 has returned to Taiwan.
Noting that the average earnings per share (EPS) growth rate in Asian stock markets this year is estimated at 9.9 percent, Lai said Taiwan's EPS growth rate is projected at 10 percent. However, that excludes the flat panel and DRAM sectors, she said.
Citing shares prices of businesses in Apple Inc. supply chain as an example, Lai said new technology products will play a major role in giving momentum to the stock market.
Apple has been launching new products, which has resulted in Apple suppliers outperforming on the stock market since January 2008, she said.
Although, Taiwan's stock market is currently in correctional mode, Lai said she is optimistic about its performance since the economy is expected to bottom out in the first half of 2012.
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Taiwan stock market outlook 2012, Taiwan stock market prediction 2012, Taiwan stock market forecast 2012-2013, Taiwan stock market projected 2012, HSBC forecast taiwan shares market 2012-2013, retail consumer stocks 2012-2013 For the latest updates PRESS CTR + D or visit Stock Market news Today
The outlook for Taiwan's downstream electronics hardware companies, retail consumer stocks, and financial sector is bullish over the next six to 12 months, said Jenny Lai, head of the research department at HSBC Securities (Taiwan) Co., at a press conference.
Lai projected that with the political situation in the country now stable after the recent elections, the government might expedite the policy of allowing Chinese investment in Taiwan that could help boost the stock market.
In terms of cash flows, Lai was also optimistic that foreign capital would continue to enter the market, saying that only one third of the US$11 billion in foreign investors' net sales at local stock market in the third quarter of 2011 has returned to Taiwan.
Noting that the average earnings per share (EPS) growth rate in Asian stock markets this year is estimated at 9.9 percent, Lai said Taiwan's EPS growth rate is projected at 10 percent. However, that excludes the flat panel and DRAM sectors, she said.
Citing shares prices of businesses in Apple Inc. supply chain as an example, Lai said new technology products will play a major role in giving momentum to the stock market.
Apple has been launching new products, which has resulted in Apple suppliers outperforming on the stock market since January 2008, she said.
Although, Taiwan's stock market is currently in correctional mode, Lai said she is optimistic about its performance since the economy is expected to bottom out in the first half of 2012.
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Monday, March 19, 2012
Hang Seng open down march 20 2012
Hang Seng open down march 20 2012 : Hong Kong stocks opened flat on Tuesday, reflecting lacklustre trade in European and US markets as investors kept to the sidelines following strong gains last week.
The benchmark Hang Seng Index inched down 7.84 points, or 0.04 per cent, to 21,107.45 in the first minutes of trade. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
The benchmark Hang Seng Index inched down 7.84 points, or 0.04 per cent, to 21,107.45 in the first minutes of trade. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Monday, February 27, 2012
South Korea stock Kospi down 2/27/2012
South Korea stock Kospi down 2/27/2012 ; South Korean stocks dropped 1.42 percent Monday on concerns that rising oil prices may hurt the South Korean economy and corporate earnings, analysts said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index lost 28.73 points to end at 1,991.16. Trading volume was moderate at 629 million shares worth 5.48 trillion won ($4.85 billion) with decliners leading gainers 570 to 275.
Rising oil prices could be a big burden to the local economy and hurt corporate earnings,” said Kwon Kyu-baek, an analyst at Etrade Securities. “Investors are worrying that the rising trend could last,” he said.
Oil prices have been on the rise, mostly driven by tensions between Iran and Western countries, and spiking demand from such emerging countries as China and India. Dubai crude oil, South Korea‘s benchmark, finished at $121.57 per barrel on Friday, up $1.35 from the previous day and rising for a third straight day.
Analysts said exporters led the decline on concerns that they are feared to lose competitiveness in overseas markets as the Japanese yen hit a nine-month low against the U.S. dollar.
Tech behemoth Samsung Electronics declined 0.76 percent to close at 1,171,000 won, and Hynix Semiconductor tumbled 3.12 percent to 27,950 won.
Hyundai Motor, the country’s leading automaker, also sank 3 percent to close at 210,000 won and its smaller affiliate Kia Motors slumped 3.14 percent to 67,900 won.
Himart, a local home appliance retailer, dropped by the daily limit of 15 percent to close at 64,000 won on news that its executives are being investigated by prosecutors for tax evasion.
Rising oil prices also forced investors to unload local refiners. SK Innovation, the country‘s leading refiner, lost 3.15 percent to 184,500 won, and S-Oil, the country’s third largest refiner, shed 4.92 percent to 125,500 won.
Petrochemical firms also declined with LG Chem, the country‘s leading chemicals maker, sliding 4.07 percent to 389,000 won.
The local currency closed at 1,129.1 won to the greenback, down 3.3 won from Friday’s close, as overseas investors offloaded the local currency amid increased market volatility, dealers said.
Shares in Hi-mart Co Ltd, South Korea's largest electronics retailer, and its majority stakeholder Eugene Corp , both plummeted by the daily limit of 15 percent on
reports that Hi-mart executives were being probed by prosecutors for possible embezzlement charges.
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The benchmark Korea Composite Stock Price Index lost 28.73 points to end at 1,991.16. Trading volume was moderate at 629 million shares worth 5.48 trillion won ($4.85 billion) with decliners leading gainers 570 to 275.
Rising oil prices could be a big burden to the local economy and hurt corporate earnings,” said Kwon Kyu-baek, an analyst at Etrade Securities. “Investors are worrying that the rising trend could last,” he said.
Oil prices have been on the rise, mostly driven by tensions between Iran and Western countries, and spiking demand from such emerging countries as China and India. Dubai crude oil, South Korea‘s benchmark, finished at $121.57 per barrel on Friday, up $1.35 from the previous day and rising for a third straight day.
Analysts said exporters led the decline on concerns that they are feared to lose competitiveness in overseas markets as the Japanese yen hit a nine-month low against the U.S. dollar.
Tech behemoth Samsung Electronics declined 0.76 percent to close at 1,171,000 won, and Hynix Semiconductor tumbled 3.12 percent to 27,950 won.
Hyundai Motor, the country’s leading automaker, also sank 3 percent to close at 210,000 won and its smaller affiliate Kia Motors slumped 3.14 percent to 67,900 won.
Himart, a local home appliance retailer, dropped by the daily limit of 15 percent to close at 64,000 won on news that its executives are being investigated by prosecutors for tax evasion.
Rising oil prices also forced investors to unload local refiners. SK Innovation, the country‘s leading refiner, lost 3.15 percent to 184,500 won, and S-Oil, the country’s third largest refiner, shed 4.92 percent to 125,500 won.
Petrochemical firms also declined with LG Chem, the country‘s leading chemicals maker, sliding 4.07 percent to 389,000 won.
The local currency closed at 1,129.1 won to the greenback, down 3.3 won from Friday’s close, as overseas investors offloaded the local currency amid increased market volatility, dealers said.
Shares in Hi-mart Co Ltd, South Korea's largest electronics retailer, and its majority stakeholder Eugene Corp , both plummeted by the daily limit of 15 percent on
reports that Hi-mart executives were being probed by prosecutors for possible embezzlement charges.
For the latest updates on the stock market, visit Stock Market Today
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Sunday, February 19, 2012
Sunshine Oilsands Ltd. ipo shares feb 20 2012
Sunshine Oilsands Ltd. ipo shares feb 20 2012 : sunshine Oilsands Ltd. will tomorrow begin offering shares in an initial public offering to raise as much as HK$4.69 billion ($605 million), the holder of Canadian oil-sand leases said.
Sovereign wealth fund China Investment Corp. and China Petroleum & Chemical Corp., or Sinopec, are among cornerstone investors in the IPO, Calgary, Alberta-based Sunshine said in a release today. The shares will be offered for between HK$4.86 and HK$5.08 apiece, and are expected to begin trading on Hong Kong’s stock exchange March 1, it said.
Hong Kong’s Hang Seng Index has gained 17 percent since Dec. 31, its best start to a year in more than a decade and following a 22 percent drop in 2011, data compiled by Bloomberg show. Sunshine’s fundraising would be the biggest IPO in Hong Kong this year, the data show.
Sunshine is also backed by China Life Insurance Co., Bank of China Group Investment Ltd. and Cross-Strait Common Development Fund Co., according to the statement.
Asked if Petronas, Malaysia’s national oil firm also known as Petroliam Nasional Bhd., would be an investor in Sunshine, Michael Hibberd, co-chairman and executive director, said he was unable to comment. Petronas has been in talks to buy Sunshine shares, Reuters reported, citing people familiar with the situation.
The global offering is for 923.3 million shares, with 92.3 million reserved for Hong Kong investors, according to the statement. At the top end of the range, the market capitalization of Sunshine would be HK$14.4 billion, it said.
The public offering will open for subscription tomorrow and close on Feb. 23, with allotment results to be announced Feb. 29, it said.
BOC International Holdings Ltd., Deutsche Bank AG and Morgan Stanley are managing the sale.
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Sovereign wealth fund China Investment Corp. and China Petroleum & Chemical Corp., or Sinopec, are among cornerstone investors in the IPO, Calgary, Alberta-based Sunshine said in a release today. The shares will be offered for between HK$4.86 and HK$5.08 apiece, and are expected to begin trading on Hong Kong’s stock exchange March 1, it said.
Hong Kong’s Hang Seng Index has gained 17 percent since Dec. 31, its best start to a year in more than a decade and following a 22 percent drop in 2011, data compiled by Bloomberg show. Sunshine’s fundraising would be the biggest IPO in Hong Kong this year, the data show.
Sunshine is also backed by China Life Insurance Co., Bank of China Group Investment Ltd. and Cross-Strait Common Development Fund Co., according to the statement.
Asked if Petronas, Malaysia’s national oil firm also known as Petroliam Nasional Bhd., would be an investor in Sunshine, Michael Hibberd, co-chairman and executive director, said he was unable to comment. Petronas has been in talks to buy Sunshine shares, Reuters reported, citing people familiar with the situation.
The global offering is for 923.3 million shares, with 92.3 million reserved for Hong Kong investors, according to the statement. At the top end of the range, the market capitalization of Sunshine would be HK$14.4 billion, it said.
The public offering will open for subscription tomorrow and close on Feb. 23, with allotment results to be announced Feb. 29, it said.
BOC International Holdings Ltd., Deutsche Bank AG and Morgan Stanley are managing the sale.
For the latest updates on the stock market, visit Stock Market Today
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Friday, February 17, 2012
South Korean stock futures kospi outlook feb 20 - 24 2012
South Korean stock futures kospi outlook feb 20 - 24 2012 : South Korean shares are expected to trade in a tight range next week while trying to stay above the 2,000 point mark, depending on how the eurozone debt crisis unfolds, analysts said Saturday.
The benchmark Korea Composite Stock Price Index (KOSPI) wrapped up this week at 2,023.47, up 1.5 percent from a week earlier.
The KOSPI had a brisk start to the week as the Greek government's approval of an austerity bill helped quell investor jitters over a possible Greek default. Hopes for a bailout for debt-ridden Greece and successful debt sales by Italy and Spain helped the key stock index rise above the 2,020 level.
But the KOSPI retreated to the 1,990 mark later in the week, due to a delay in the decision to rescue Greece and a divided opinion over a third round of quantitative easing among policymakers at the Federal Reserve.
Analysts said that the KOSPI is expected to test the 2,000 point mark next week as investors are likely to focus on the development of solutions to Greece's debt woes.
"Next week, the Seoul bourse will continue to try to stay above the 2,000 level, depending on external factors," said Lee Seung-woo, an analyst at Daewoo Securities Co.
Market watchers said that foreign investors are likely to continue their buying spree next week, which will give the KOSPI upward momentum. Offshore investors snapped up a net 648 billion won (US$575.2 million) worth of local stocks on the main bourse this week. For the latest updates on the stock market, visit Stock Market Today
South Korean stock futures kospi outlook feb 20 - 24 2012, kospi predictions next week feb 20 2012, South Korean stock futures kospi forecast feb 20 - 24 2012, Seoul bours next week feb 20 2012, For the latest updates PRESS CTR + D or visit Stock Market news Today
The benchmark Korea Composite Stock Price Index (KOSPI) wrapped up this week at 2,023.47, up 1.5 percent from a week earlier.
The KOSPI had a brisk start to the week as the Greek government's approval of an austerity bill helped quell investor jitters over a possible Greek default. Hopes for a bailout for debt-ridden Greece and successful debt sales by Italy and Spain helped the key stock index rise above the 2,020 level.
But the KOSPI retreated to the 1,990 mark later in the week, due to a delay in the decision to rescue Greece and a divided opinion over a third round of quantitative easing among policymakers at the Federal Reserve.
Analysts said that the KOSPI is expected to test the 2,000 point mark next week as investors are likely to focus on the development of solutions to Greece's debt woes.
"Next week, the Seoul bourse will continue to try to stay above the 2,000 level, depending on external factors," said Lee Seung-woo, an analyst at Daewoo Securities Co.
Market watchers said that foreign investors are likely to continue their buying spree next week, which will give the KOSPI upward momentum. Offshore investors snapped up a net 648 billion won (US$575.2 million) worth of local stocks on the main bourse this week. For the latest updates on the stock market, visit Stock Market Today
South Korean stock futures kospi outlook feb 20 - 24 2012, kospi predictions next week feb 20 2012, South Korean stock futures kospi forecast feb 20 - 24 2012, Seoul bours next week feb 20 2012, For the latest updates PRESS CTR + D or visit Stock Market news Today
Sunday, February 5, 2012
Joy Global Inc. stock outlook week feb 6 -10 2012
Joy Global Inc. stock outlook week feb 6 -10 2012 : Joy Global Inc. (NYSE:JOY) announced the extension of the tender offer that its wholly owned Hong Kong subsidiary, Joy Global Asia Limited, is conducting for the shares of common stock it does not currently own of International Mining Machinery Holdings.
To date, Joy Global Asia Limited has received acceptances in respect of 370,059,847 shares of IMM common stock and elections to cancel 100% of all outstanding options to purchase IMM common stock.
Joy Global will pay aggregate consideration of approximately $420M for such shares and options. Combined with shares it previously owned, the acceptances of the tender offer to date have resulted in Joy Global Asia Limited holding approximately 97.7% of all of the shares of IMM common stock.
The tender offer to purchase the remaining shares of IMM common stock, which was to have expired on February 3, will now expire on February 10, 2012 at 4:00 p.m., Hong Kong time. With 97.7% of the shares of IMM common stock, Joy Global Asia Limited intends to exercise its right to compulsorily acquire those shares of IMM common stock which have not been acquired by Joy Global Asia Limited under the share offer.
The shares closed at $89.65, down $0.51, or 0.57%, on the day. Its market capitalization is $9.42 billion. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
To date, Joy Global Asia Limited has received acceptances in respect of 370,059,847 shares of IMM common stock and elections to cancel 100% of all outstanding options to purchase IMM common stock.
Joy Global will pay aggregate consideration of approximately $420M for such shares and options. Combined with shares it previously owned, the acceptances of the tender offer to date have resulted in Joy Global Asia Limited holding approximately 97.7% of all of the shares of IMM common stock.
The tender offer to purchase the remaining shares of IMM common stock, which was to have expired on February 3, will now expire on February 10, 2012 at 4:00 p.m., Hong Kong time. With 97.7% of the shares of IMM common stock, Joy Global Asia Limited intends to exercise its right to compulsorily acquire those shares of IMM common stock which have not been acquired by Joy Global Asia Limited under the share offer.
The shares closed at $89.65, down $0.51, or 0.57%, on the day. Its market capitalization is $9.42 billion. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
China Xiwang Special Steel in Hong Kong ipo Feb. 23 2012
China Xiwang Special Steel in Hong Kong ipo Feb. 23 2012 : China's Xiwang Special Steel Co. plans to raise up to $217 million in a Hong Kong initial public offering, a person familiar with the situation said Saturday.
The Shandong-based company, which will start taking orders from institutional investors Monday, plans to sell 500 million shares in an indicative price range of 2.65 Hong Kong dollars to $3.36 Hong Kong dollars each, the person said, adding the price range translates to 3.93 times to five times 2012 forecast earnings.
Xiwang Special Steel is scheduled to list on the Hong Kong stock exchange on Feb. 23, according to a term sheet. The maker of steel, steel pipes and gearings plans to use the proceeds to expand production lines, the term sheet says, For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
The Shandong-based company, which will start taking orders from institutional investors Monday, plans to sell 500 million shares in an indicative price range of 2.65 Hong Kong dollars to $3.36 Hong Kong dollars each, the person said, adding the price range translates to 3.93 times to five times 2012 forecast earnings.
Xiwang Special Steel is scheduled to list on the Hong Kong stock exchange on Feb. 23, according to a term sheet. The maker of steel, steel pipes and gearings plans to use the proceeds to expand production lines, the term sheet says, For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Thursday, February 2, 2012
Korea Life Insurance Co shares outlook february 3 2012
Korea Life Insurance Co shares outlook february 3 2012 : Korea Life Insurance Co. (088350) (088350 KS): The South Korean insurer is reviewing the feasibility of a possible bid for ING Life Insurance’s Asia Pacific unit, according to a regulatory filing. The shares climbed 1.6 percent to 7,670 won. share prices are as of the latest close. For the latest updates on the stock market, visit Stock Market Today
For the latest updates PRESS CTR + D or visit Stock Market news Today
Saturday, January 7, 2012
Korea stock market kospi outlook january 9 2012
Korea stock market kospi outlook january 9 2012 : Korea‘s bourse is expected to feel the effects of eurozone woes with stocks prices likely to remain locked this week despite modest gains made coming into the new year, local analysts said Saturday. The benchmark KOSPI gained 0.95 percent from the previous week’s closing to end the first week of trading in 2012 at 1,843.14 points.
The 17.40 point gain comes despite unfounded rumors about a nuclear accident in North Korea that caused the KOSPI to temporarily fall sharply for a time on Friday.
Analysts said last week‘s gains were possible because investors were generally buoyed by upbeat sentiment of stronger than forecast economic recovery in the United States.
They, however, said that persistent fiscal challenges facing many European countries will continue to weigh down the stock market.
“The eurozone crisis is expected to become the main source of concern after being sidelined in recent weeks,” said Lee Seung-woo, an analyst from Daewoo Securities Co.
He pointed out that while summit meetings between the heads of Germany, France and Italy are planned for this week, it is highly unlikely the talks will resolve difficult outstanding issues.
Other experts said that such uncertainties have even dampened forecasts by Samsung Electronics Co., the world’s largest maker of memory chips and smartphones, that it would post record operating profit in the fourth quarter on the back of strong sales of smartphones.
“Overall, stock prices are forecast to remain unchanged through next week‘s trading session,” many local analysts said. They added that investors may start taking a closer look at developments taking place in Europe which can influence the overall global financial market. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
The 17.40 point gain comes despite unfounded rumors about a nuclear accident in North Korea that caused the KOSPI to temporarily fall sharply for a time on Friday.
Analysts said last week‘s gains were possible because investors were generally buoyed by upbeat sentiment of stronger than forecast economic recovery in the United States.
They, however, said that persistent fiscal challenges facing many European countries will continue to weigh down the stock market.
“The eurozone crisis is expected to become the main source of concern after being sidelined in recent weeks,” said Lee Seung-woo, an analyst from Daewoo Securities Co.
He pointed out that while summit meetings between the heads of Germany, France and Italy are planned for this week, it is highly unlikely the talks will resolve difficult outstanding issues.
Other experts said that such uncertainties have even dampened forecasts by Samsung Electronics Co., the world’s largest maker of memory chips and smartphones, that it would post record operating profit in the fourth quarter on the back of strong sales of smartphones.
“Overall, stock prices are forecast to remain unchanged through next week‘s trading session,” many local analysts said. They added that investors may start taking a closer look at developments taking place in Europe which can influence the overall global financial market. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Thursday, December 15, 2011
Chow Tai Fook and New China Life insurance stock prices dec 15 2011
Chow Tai Fook and New China Life insurance stock prices down dec 15 2011 : Chow Tai Fook Jewellery Group Ltd. and New China Life Insurance Co. fell on their first trading day in Hong Kong, reflecting a slump in demand for new equity as China's growth slows and Europe's debt crisis persists.
Chow Tai Fook, the world's largest listed jewelry chain, dropped 8 percent to HK$13.8 at the close of Hong Kong trading after raising HK$15.8 billion ($2 billion) in an initial public offering. New China Life, the country's third-largest life insurer, fell 9.8 percent to HK$25.7 at the market close after completing a $1.9 billion IPO.
New China Life had the worst debut among Hong Kong IPOs of at least $1 billion since June, according to data compiled by Bloomberg. Other companies selling stock for the first time, including Haitong Securities Co. and Guodian Technology & Environment Group Corp., canceled or reduced offerings in the past week as the economic turmoil sapped demand for equity.
"Investors are holding on to their cash, doubtful about not only new stock, but also shares in the secondary market," said Ronald Wan, a Hong Kong-based managing director at China Merchants Securities Co., which oversees about $1.5 billion. "Worries about Europe will keep investors cautious in months to come."
Near the Bottom
Hui Xian Real Estate Investment Trust fell 9.4 percent on its April debut after raising $1.8 billion in Hong Kong's first yuan-denominated initial public offering. Samsonite International SA, the world's biggest branded-luggage maker, lost 7.7 percent on its first day of trading in the city in June.
Chow Tai Fook and New China Life fell even after pricing their IPOs at or near the bottom of ranges marketed to investors. Hong Kong's benchmark Hang Seng Index is down 6.3 percent since Dec. 7, the day before New China Life priced its shares.
"With the uncertain outlook for the macro economy, it's difficult to ask investors to buy newly listed stocks at the moment," said Alex Au, Hong Kong-based managing director of Richland Capital Management Ltd., which oversees $300 million.
Chow Tai Fook's offer price values the company at about 15 times estimated profit for the year ending March 2013, according to people with knowledge of the matter. Tiffany & Co., the New York-based luxury jeweler, trades at 15.4 times the average analyst estimate for 2012 earnings, data compiled by Bloomberg show. Signet Jewelers Ltd., the world's second-largest jewelry chain, trades at 11.3 times.
39 Percent Plunge
China Polymetallic Mining Ltd. plunged 39.2 percent yesterday on its debut after raising HK$1.1 billion in a Hong Kong IPO. Baoxin Auto Group Ltd. lost 14.1 percent yesterday in the first day of trading after a HK$3.2 billion offering.
Chow Tai Fook expects "buying power of customers to weaken" amid the slowing global economy, Chairman Henry Cheng said in Hong Kong today. The company is "confident" about its long-term sales performance, he said.
"With gold's price coming down from its peak, sales growth at gold shops would inevitably fall," Jason Yuan, a Shanghai- based analyst at UOB Kay Hian Holdings Ltd., said in a phone interview today. "The high-growth period is over."
The jeweler's same-store sales growth for the six months ended Sept. 30 was 62 percent, according to its listing prospectus. It had 1,335 outlets in mainland China and 86 in Hong Kong, Macau and other Asian markets as of Sept. 30.
33 Month Low
New China Life is raising more equity after its expansion in a market that has grown an average 30 percent a year during the past three decades brought its solvency ratio, a gauge of its ability to settle claims, below regulatory requirements. Chinese life insurers' capital strength may weaken further as stocks declines amid an economic slowdown crimp profitability, Fitch Ratings said in an e-mailed report on Dec. 7. The Shanghai Composite Index yesterday fell to its lowest close since March 2009.
The company's "quality isn't perceived as good as other listed insurers in the market," said Au of Richland Capital. "If the general macro economy is not so certain, investors tend to stick with higher quality names."
New China Life raised $1.3 billion in Hong Kong and $580 million in Shanghai, where it will start trading tomorrow.
Deutsche Bank AG, Goldman Sachs Group Inc., HSBC Holdings Plc and JPMorgan Chase & Co. managed Chow Tai Fook's IPO. BNP Paribas SA, China International Capital Corp., Deutsche Bank, Goldman Sachs Group Inc. and UBS AG are among banks that arranged New China Life's sale. For the latest updates on the stock market, visit Stock Market Today
New China Life insurance IPO shares prices 15/12/2011, Chow Tai Fook ipo stock prices december 15 2011, Hong Kong ipo market december 15 2011 For the latest updates PRESS CTR + D or visit Stock Market news Today
Chow Tai Fook, the world's largest listed jewelry chain, dropped 8 percent to HK$13.8 at the close of Hong Kong trading after raising HK$15.8 billion ($2 billion) in an initial public offering. New China Life, the country's third-largest life insurer, fell 9.8 percent to HK$25.7 at the market close after completing a $1.9 billion IPO.
New China Life had the worst debut among Hong Kong IPOs of at least $1 billion since June, according to data compiled by Bloomberg. Other companies selling stock for the first time, including Haitong Securities Co. and Guodian Technology & Environment Group Corp., canceled or reduced offerings in the past week as the economic turmoil sapped demand for equity.
"Investors are holding on to their cash, doubtful about not only new stock, but also shares in the secondary market," said Ronald Wan, a Hong Kong-based managing director at China Merchants Securities Co., which oversees about $1.5 billion. "Worries about Europe will keep investors cautious in months to come."
Near the Bottom
Hui Xian Real Estate Investment Trust fell 9.4 percent on its April debut after raising $1.8 billion in Hong Kong's first yuan-denominated initial public offering. Samsonite International SA, the world's biggest branded-luggage maker, lost 7.7 percent on its first day of trading in the city in June.
Chow Tai Fook and New China Life fell even after pricing their IPOs at or near the bottom of ranges marketed to investors. Hong Kong's benchmark Hang Seng Index is down 6.3 percent since Dec. 7, the day before New China Life priced its shares.
"With the uncertain outlook for the macro economy, it's difficult to ask investors to buy newly listed stocks at the moment," said Alex Au, Hong Kong-based managing director of Richland Capital Management Ltd., which oversees $300 million.
Chow Tai Fook's offer price values the company at about 15 times estimated profit for the year ending March 2013, according to people with knowledge of the matter. Tiffany & Co., the New York-based luxury jeweler, trades at 15.4 times the average analyst estimate for 2012 earnings, data compiled by Bloomberg show. Signet Jewelers Ltd., the world's second-largest jewelry chain, trades at 11.3 times.
39 Percent Plunge
China Polymetallic Mining Ltd. plunged 39.2 percent yesterday on its debut after raising HK$1.1 billion in a Hong Kong IPO. Baoxin Auto Group Ltd. lost 14.1 percent yesterday in the first day of trading after a HK$3.2 billion offering.
Chow Tai Fook expects "buying power of customers to weaken" amid the slowing global economy, Chairman Henry Cheng said in Hong Kong today. The company is "confident" about its long-term sales performance, he said.
"With gold's price coming down from its peak, sales growth at gold shops would inevitably fall," Jason Yuan, a Shanghai- based analyst at UOB Kay Hian Holdings Ltd., said in a phone interview today. "The high-growth period is over."
The jeweler's same-store sales growth for the six months ended Sept. 30 was 62 percent, according to its listing prospectus. It had 1,335 outlets in mainland China and 86 in Hong Kong, Macau and other Asian markets as of Sept. 30.
33 Month Low
New China Life is raising more equity after its expansion in a market that has grown an average 30 percent a year during the past three decades brought its solvency ratio, a gauge of its ability to settle claims, below regulatory requirements. Chinese life insurers' capital strength may weaken further as stocks declines amid an economic slowdown crimp profitability, Fitch Ratings said in an e-mailed report on Dec. 7. The Shanghai Composite Index yesterday fell to its lowest close since March 2009.
The company's "quality isn't perceived as good as other listed insurers in the market," said Au of Richland Capital. "If the general macro economy is not so certain, investors tend to stick with higher quality names."
New China Life raised $1.3 billion in Hong Kong and $580 million in Shanghai, where it will start trading tomorrow.
Deutsche Bank AG, Goldman Sachs Group Inc., HSBC Holdings Plc and JPMorgan Chase & Co. managed Chow Tai Fook's IPO. BNP Paribas SA, China International Capital Corp., Deutsche Bank, Goldman Sachs Group Inc. and UBS AG are among banks that arranged New China Life's sale. For the latest updates on the stock market, visit Stock Market Today
New China Life insurance IPO shares prices 15/12/2011, Chow Tai Fook ipo stock prices december 15 2011, Hong Kong ipo market december 15 2011 For the latest updates PRESS CTR + D or visit Stock Market news Today
Hong Kong stock market december 15 2011
Hong Kong stock market december 15 2011 : Shares in two of Hong Kong's biggest stock market flotations this year have fallen in their first day of trading. Shares in jeweller Chow Tai Fook closed at HK$13.80 ($1.77; £1.14), down from an offer price of HK$15.
Insurance firm New China Life also lost ground, falling to HK$25.70 from an offer price of HK$28.50. Recent Hong Kong initial public offerings (IPOs) have struggled to attract investors amid volatility on stock markets worldwide.
Hong Kong's benchmark Hang Seng index fell for a sixth consecutive session on Thursday and is down 21% this year. Its once-booming market for IPOs has been hit as a result.
Companies listing in Hong Kong have raised $30.4bn (£19.7bn) so far this year, far behind the $57bn raised in 2010, according to figures from market data firm Dealogic.
However, Hong Kong remains the world's top market for new listings, with more funds raised than New York or London. Chow Tai Fook raised $2bn by selling shares to investors in Hong Kong's third largest IPO this year.
The amount raised lagged behind the $2.5bn that Italian fashion house Prada raised in its Hong Kong IPO in June and the $2.1bn raised by Shanghai Pharmaceuticals.
While its name does not travel far outside its home market, Chow Tai Fook is a major brand in China and its listing had been hotly anticipated.
New China Life, meanwhile, raised $1.9bn in its IPO in a dual Hong Kong and Shanghai listing. It will begin trading in Shanghai on Friday. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Insurance firm New China Life also lost ground, falling to HK$25.70 from an offer price of HK$28.50. Recent Hong Kong initial public offerings (IPOs) have struggled to attract investors amid volatility on stock markets worldwide.
Hong Kong's benchmark Hang Seng index fell for a sixth consecutive session on Thursday and is down 21% this year. Its once-booming market for IPOs has been hit as a result.
Companies listing in Hong Kong have raised $30.4bn (£19.7bn) so far this year, far behind the $57bn raised in 2010, according to figures from market data firm Dealogic.
However, Hong Kong remains the world's top market for new listings, with more funds raised than New York or London. Chow Tai Fook raised $2bn by selling shares to investors in Hong Kong's third largest IPO this year.
The amount raised lagged behind the $2.5bn that Italian fashion house Prada raised in its Hong Kong IPO in June and the $2.1bn raised by Shanghai Pharmaceuticals.
While its name does not travel far outside its home market, Chow Tai Fook is a major brand in China and its listing had been hotly anticipated.
New China Life, meanwhile, raised $1.9bn in its IPO in a dual Hong Kong and Shanghai listing. It will begin trading in Shanghai on Friday. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Monday, July 11, 2011
hong kong shares prices monday july 11 2011
hong kong shares prices monday july 11 2011 ; Banks led a broad decline in Hong Kong shares on Monday as investors took profit after three straight weeks of gains following disappointing economic data from the United States and China.
The benchmark Hang Seng Index closed down 1.67 percent at 22,347.23. The China Enterprises Index closed down 2.03 percent at 12,497.32.
Over on the mainland, utilities helped the Shanghai Composite Index finish up 0.18 percent at 2,802.69, negating losses in large cap financials and energy.
HIGHLIGHTS:
* Turnover on Monday was the lowest in six weeks with less than 10 percent of the 45 constituent stocks on the benchmark Hang Seng Index exceeding its 30-day average volume.
* Chinese sportswear maker China Dongxiang (Group) Co Ltd plunged more than 15 percent in volume almost 14 times its 30-day average after it said it expected lower profit margins and sales for the first half, echoing a similar warning from Li Ning Co Ltd last week and dragging peers Anta Sports Products Ltd down more than 8 percent in volume almost six times its 30-day average.
* There was no respite for Chinese banks, which resumed their slide after a brief recovery last week that came partly on short-covering. On a day of particularly light turnover in Hong Kong, China Construction Bank Corp fell more than 2 percent in relatively healthy volume as another potential stake sale continued to trump historically low valuations. The lock-up period for Bank of America's 10.2 percent stake, valued at about $19 billion, expires next month and shares are unlikely to see a big move higher until that is out of the way For the latest updates PRESS CTR + D or visit Stock Market news Today
The benchmark Hang Seng Index closed down 1.67 percent at 22,347.23. The China Enterprises Index closed down 2.03 percent at 12,497.32.
Over on the mainland, utilities helped the Shanghai Composite Index finish up 0.18 percent at 2,802.69, negating losses in large cap financials and energy.
HIGHLIGHTS:
* Turnover on Monday was the lowest in six weeks with less than 10 percent of the 45 constituent stocks on the benchmark Hang Seng Index exceeding its 30-day average volume.
* Chinese sportswear maker China Dongxiang (Group) Co Ltd plunged more than 15 percent in volume almost 14 times its 30-day average after it said it expected lower profit margins and sales for the first half, echoing a similar warning from Li Ning Co Ltd last week and dragging peers Anta Sports Products Ltd down more than 8 percent in volume almost six times its 30-day average.
* There was no respite for Chinese banks, which resumed their slide after a brief recovery last week that came partly on short-covering. On a day of particularly light turnover in Hong Kong, China Construction Bank Corp fell more than 2 percent in relatively healthy volume as another potential stake sale continued to trump historically low valuations. The lock-up period for Bank of America's 10.2 percent stake, valued at about $19 billion, expires next month and shares are unlikely to see a big move higher until that is out of the way For the latest updates PRESS CTR + D or visit Stock Market news Today
Tuesday, June 14, 2011
Hong Kong Stocks to watch june 15 2011, Air China, Cheung Kong, Giordano, ZTE
Hong Kong Stocks to watch june 15 2011, Air China, Cheung Kong, Giordano, ZTE ; The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.
The Hang Seng Index fell 0.1 percent to 22,496. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, gained 0.5 percent to 12,488.27.
Hong Kong developers: Hong Kong's non-residential property markets are facing "brisk speculative activities" and risks of an overheating "remain a concern," the Hong Kong Monetary Authority said in its quarterly report yesterday.
Sun Hung Kai Properties Ltd. (16 HK), the world's biggest developer by market value, gained 0.6 percent to HK$113.90.
Cheung Kong Holdings Ltd. (1 HK), the No. 2, rose 0.1 percent to HK$115.10. The company plans to increase apartment prices at its Festival City development by about 4 percent to HK$9,000 ($1,156) a square foot, the Standard newspaper said, citing company Real Estate Director William Kwok.
Air China Ltd. (753 HK): Passengers numbers at China's biggest airline by market value rose 7.1 percent in May from a year earlier. The stock declined 0.6 percent to HK$7.04.
Cathay Pacific Airways Ltd. (293 HK): Asia's third-largest listed carrier by market value plans to order as many as 15 freighter planes to meet its needs for 2013 to 2018, the South China Morning Post said, citing Nick Rhodes, general manager of the carrier's cargo unit. The stock slid 0.6 percent to HK$18.04.
China Pacific Insurance Group Co. (2601 HK): The nation's third-biggest insurer by market value said the company in the first five months this year received 46.4 billion yuan ($7.16 billion) in life insurance premium and 26.8 billion yuan in property insurance premium, according to a statement to the Shanghai Stock Exchange. The stock advanced 0.3 percent to HK$31.55.
CSR Corp. (1766 HK): The maker of wagons and rapid transit vehicles said it will sell 11 billion yuan of new A-shares to its government-owned parent and the country's social security fund to help pay for expansion. The company said it has applied to resume trading today in Hong Kong after being suspended since June 13.
Galaxy Entertainment Group Ltd. (27 HK): Permira Advisers LLP, a leveraged buyout fund, may sell its $1.7 billion stake in the Macau casino operator, two people with knowledge of the matter said. The stock slid 0.4 percent to HK$16.04.
Giordano International Ltd. (709 HK): Billionaire Cheng Yu- tung said he has no intention of buying out clothing retailer Giordano, after raising his holding to 18.07 percent, the Hong Kong Economic Journal reported today. The stock fell 0.6 percent to HK$6.70.
International Mining Machinery Holdings Ltd. (1683 HK): The coal mining equipment manufacturer said shareholders voted down resolutions that would have given the board a mandate to issue new shares. The stock increased 0.4 percent to HK$7.24.
PCCW Ltd. (8 HK): Hong Kong's biggest phone carrier is planning to build a high-speed broadband network in the U.K. that could be launched as soon as 2012, the Financial Times reported, citing Nicholas James, chief executive officer of the company's U.K. subsidiary, U.K. Broadband. The stock rose 2 percent to HK$3.08.
Shanghai Electric Group Co. (2727 HK): The power equipment maker said it plans to invest 1 billion yuan in an energy venture with Shanghai Municipal Electric Power Co. The stock rose 0.5 percent to HK$3.95.
Tai Shing International (Holdings) Ltd. (8103 HK): The provider of system development services said it will post a full-year net loss from reasons including increased administrative expenses. The stock rose 0.6 percent to 16.2 Hong Kong cents.
ZTE Corp. (763 HK): The mobile-phone equipment developer aims to outpace smartphone rivals in Europe and the U.S., helped by a growing device range and the popularity of Google Inc.'s Android platform, said Thomas Granstrom, the company's general manager in the Nordic region. The stock jumped 3.2 percent to HK$27.70. For the latest updates PRESS CTR + D or visit Stock Market news Today
The Hang Seng Index fell 0.1 percent to 22,496. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, gained 0.5 percent to 12,488.27.
Hong Kong developers: Hong Kong's non-residential property markets are facing "brisk speculative activities" and risks of an overheating "remain a concern," the Hong Kong Monetary Authority said in its quarterly report yesterday.
Sun Hung Kai Properties Ltd. (16 HK), the world's biggest developer by market value, gained 0.6 percent to HK$113.90.
Cheung Kong Holdings Ltd. (1 HK), the No. 2, rose 0.1 percent to HK$115.10. The company plans to increase apartment prices at its Festival City development by about 4 percent to HK$9,000 ($1,156) a square foot, the Standard newspaper said, citing company Real Estate Director William Kwok.
Air China Ltd. (753 HK): Passengers numbers at China's biggest airline by market value rose 7.1 percent in May from a year earlier. The stock declined 0.6 percent to HK$7.04.
Cathay Pacific Airways Ltd. (293 HK): Asia's third-largest listed carrier by market value plans to order as many as 15 freighter planes to meet its needs for 2013 to 2018, the South China Morning Post said, citing Nick Rhodes, general manager of the carrier's cargo unit. The stock slid 0.6 percent to HK$18.04.
China Pacific Insurance Group Co. (2601 HK): The nation's third-biggest insurer by market value said the company in the first five months this year received 46.4 billion yuan ($7.16 billion) in life insurance premium and 26.8 billion yuan in property insurance premium, according to a statement to the Shanghai Stock Exchange. The stock advanced 0.3 percent to HK$31.55.
CSR Corp. (1766 HK): The maker of wagons and rapid transit vehicles said it will sell 11 billion yuan of new A-shares to its government-owned parent and the country's social security fund to help pay for expansion. The company said it has applied to resume trading today in Hong Kong after being suspended since June 13.
Galaxy Entertainment Group Ltd. (27 HK): Permira Advisers LLP, a leveraged buyout fund, may sell its $1.7 billion stake in the Macau casino operator, two people with knowledge of the matter said. The stock slid 0.4 percent to HK$16.04.
Giordano International Ltd. (709 HK): Billionaire Cheng Yu- tung said he has no intention of buying out clothing retailer Giordano, after raising his holding to 18.07 percent, the Hong Kong Economic Journal reported today. The stock fell 0.6 percent to HK$6.70.
International Mining Machinery Holdings Ltd. (1683 HK): The coal mining equipment manufacturer said shareholders voted down resolutions that would have given the board a mandate to issue new shares. The stock increased 0.4 percent to HK$7.24.
PCCW Ltd. (8 HK): Hong Kong's biggest phone carrier is planning to build a high-speed broadband network in the U.K. that could be launched as soon as 2012, the Financial Times reported, citing Nicholas James, chief executive officer of the company's U.K. subsidiary, U.K. Broadband. The stock rose 2 percent to HK$3.08.
Shanghai Electric Group Co. (2727 HK): The power equipment maker said it plans to invest 1 billion yuan in an energy venture with Shanghai Municipal Electric Power Co. The stock rose 0.5 percent to HK$3.95.
Tai Shing International (Holdings) Ltd. (8103 HK): The provider of system development services said it will post a full-year net loss from reasons including increased administrative expenses. The stock rose 0.6 percent to 16.2 Hong Kong cents.
ZTE Corp. (763 HK): The mobile-phone equipment developer aims to outpace smartphone rivals in Europe and the U.S., helped by a growing device range and the popularity of Google Inc.'s Android platform, said Thomas Granstrom, the company's general manager in the Nordic region. The stock jumped 3.2 percent to HK$27.70. For the latest updates PRESS CTR + D or visit Stock Market news Today
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