Chinese property developers: Cash levels at Guangdong developers have reached the lowest point in the past 10 years partly because of tightened money supply, China Business News reported today, citing research by the local government.
China Vanke Co. (000002 CH) added 0.1 percent to 7.67 yuan. Poly Real Estate Group Co. (600048 CH) declined 0.5 percent to 9.74 yuan.
Acer Inc. (2353 TT): The world’s fourth-largest computer maker appointed Oliver Ahrens, president of Acer China, to head the Europe, Middle East and Africa, or EMEA, operations, the company said in an e-mailed statement. Scott Lin, president of Acer Taiwan, will concurrently head the China operations, the statement said. The executives are expected to complete the handover of their responsibilities by year-end, the company said. The stock declined 1.4 percent to NT$35.15.
Advantest Corp. (6857 JT): The world’s biggest maker of memory-chip testers swung to a net loss of 4.54 billion yen ($60 million) in the six months ended Sept. 30 from a 2.59 billion yen profit a year earlier, dragged down by stock devaluation losses. The stock climbed 0.9 percent to 931 yen.
Bank of Communications Co. (3328 HK): China’s fifth-largest lender by market value posted a 31 percent gain in third-quarter profit to as lending and fee income rose. The shares climbed 5.9 percent to HK$5.37 in Hong Kong. The stock gained 0.9 percent to 4.75 yuan in Shanghai.
China Minsheng Banking Corp. (600016 CH): The bank posted third-quarter net income of 7.47 billion yuan ($1.2 billion), according to a statement to the Hong Kong Stock Exchange. That compares with the median 7.1 billion-yuan estimate of eight analysts surveyed by Bloomberg News. The stock advanced 1.7 percent to 6.07 yuan.
China Unicom (Hong Kong) Ltd. (762 HK): The nation’s second-largest mobile phone company, posted third-quarter profit that missed analysts’ estimates as marketing costs and wages for employees rose. The stock lost 0.6 percent to HK$16.10.
CyberAgent Inc. (4751 JT): The online advertising agency said it will buy back up to 1.33 percent of its outstanding shares. It also said it expects a 16 percent rise in net income to 8.5 billion yen this fiscal year. The stock rose 0.5 percent to 231,700 yen.
Ibiden Co. (4062 JT): The maker electronics and ceramics cut its full-year net-income forecast 73 percent to 3.3 billion yen, citing losses related to the stronger yen. The stock rose 0.3 percent to 1,960 yen.
Komatsu Ltd. (6301 JT): The world’s second-biggest maker of construction and mining machinery plans to buy back as much as 1.65 percent of its outstanding shares for up to 30 billion yen from Nov. 7 to Dec. 28, according to its statement. The company also lowered its full-year net-income forecast 7 percent to 186 billion yen. The stock jumped 4 percent to 1,916 yen.
Kyocera Corp. (6971 JT): The electronic-parts manufacturer cut its full-year net-income forecast 22 percent to 87 billion yen, citing Europe’s financial difficulties and a strong yen. The stock advanced 1.6 percent to 7,200 yen.
Malaysia Airports Holdings Bhd. (MAHB MK): The company won approval from the Ministry of Transport to increase international passenger service fees and aircraft landing and parking charges, it said in a statement. The stock was unchanged at 5.88 ringgit.
Marui Group Co. (8252 JT): The department-store operator and consumer lender said net income was 1.1 billion yen for the six months ended Sept. 30, missing its forecast by 63 percent as the value of its stock investments dropped. Operating profit in the period was 7.7 billion yen, 28 percent more than the company expected, Marui said in a preliminary earnings statement. The stock rose 1.5 percent to 612 yen.
MHC Plantations Bhd. (MHC MK): The Malaysian oil palm and rubber planter said third-quarter profit dropped 33 percent from a year earlier to 8.5 million ringgit, according to a stock exchange filing. The stock rose 4.2 percent to 1.25 ringgit.
Nikon Corp. (7731 JT): First-half net income beat its forecast by 39 percent after selling more digital cameras than expected, according to a preliminary earnings statement. The stock gained 1.5 percent to 1,713 yen.
Nintendo Co. (7974 JO): The world’s largest maker of video- game machines forecast its first annual loss in at least 30 years after the yen strengthened and the company cut the price of its new 3DS console. The company expects a net loss of 20 billion yen for the fiscal year ending in March, compared with an earlier forecast of 20 billion yen in profit, Nintendo said. The stock fell 0.6 percent to 11,110 yen.
Omron Corp. (6645 JO): The maker of electronic components lowered its full-year net-income outlook 21 percent to 27 billion yen, citing the currency’s strength. The stock advanced 3.9 percent to 1,850 yen.
Philex Mining Corp. (PX PM): The largest Philippine metals producer’s core net income this year may reach “north of” 5 billion pesos ($117 million), Chairman Manuel Pangilinan said. The stock increased 0.6 percent to 24.05 pesos.
Philippine Long Distance Telephone Co. (TEL PM): Third- quarter results of the largest Philippine phone company were “broadly similar” to the numbers that came out during the first half of the year, Chairman Manuel Pangilinan said. The stock gained 2.5 percent to 2,388 pesos.
Sharp Corp. (6753 JT): Japan’s largest producer of liquid- crystal displays cut its annual sales and operating profit forecast citing a stronger yen and weakness in the U.S. and European economies. The stock rallied 3.7 percent to 694 yen.
Softbank Corp. (9984 JT): Japan’s third-largest mobile- phone carrier’s first-half net income more than doubled to 217.3 billion yen from 76.8 billion yen a year earlier, helped by the sale of Apple Inc.’s iPhones. Softbank shares rose 0.9 percent to 2,450 yen.
Sony Corp. (6758 JT): Japan’s leading exporter of consumer electronics agreed to acquire a 50 percent stake in its 10-year- old mobile-phone venture with Ericsson AB (ERICB SS). Its partner will get 1.05 billion euros ($1.5 billion) in cash for its interest in Sony Ericsson Mobile Communications AB, the Swedish company said in a statement. Sony soared 5.4 percent to 1,650 yen.
Taiwan Semiconductor Manufacturing Co. (2330 TT): The world’s largest contract maker of chips said third-quarter net income fell 35 percent to NT$30.4 billion ($1 billion), from NT$46.9 billion a year earlier. That’s in line with the NT$30.3 billion average of 17 analyst estimates compiled by Bloomberg. The stock was unchanged at NT$71.90.
Terumo Corp. (4543 JT): The maker of medical devices on Nov. 10 plans to retire 21 million shares, or 9.96 percent of its outstanding stock, according to a statement. The company also cut its net-income outlook to 32.5 billion yen from 38.5 billion yen. The stock rose 2.4 percent to 3,870 yen.
Tokyu Corp. (9005 JT): The railway operator said it will sell train car operations to East Japan Railway Co. (9020 JT). Tokyu expects to book about 4 billion yen charge from the sale. The stock rose 0.8 percent to 374 yen. East Japan Railway, the nation’s largest train operator by sales, advanced 1.4 percent to 4,590 yen.
West Japan Railway Co. (9021 JT): Japan’s third-largest rail operator by market value raised its full-year net-income forecast 31 percent to 40 billion yen. The stock rose 1.6 percent to 3,280 yen.
Wing Tai Holdings Ltd. (WINGT SP): The Singapore-based developer said first-quarter net income more than tripled to S$25.1 million ($20 million), compared with S$6.6 million a year earlier. Wing Tai gained 4 percent to S$1.29.
ZTE Corp. (000063 CH): The company’s third-quarter net income fell 38 percent from a year earlier to 299.3 million yuan, according to a statement to the Shenzhen Stock Exchange today. The stock climbed 0.3 percent to 17.45 yuan. For the latest updates PRESS CTR + D or visit Stock Market news Today
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