By - Sep 8, 2010 5:34 AM GMT+0800
The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Australian mining stocks: Prime Minister Julia Gillard’s government is “determined” to press ahead with its election promise to introduce a mining profit tax in Australia, Treasurer Wayne Swan said after the Labor Party won support from independent members of parliament to form a government.
BHP Billiton Ltd. (BHP AU), the world’s largest mining company, declined 0.3 percent to A$38.44. Rio Tinto Group (RIO AU), the third-biggest miner, dropped 0.9 percent to A$74.35.
Banks: Philippine bank loans, net of overnight placements with the central bank, increased 11.7 percent in July, the fastest growth since June 2009, according to the monetary authority. Banco de Oro Unibank Inc. (BDO PM), the nation’s biggest bank by assets, advanced 0.5 percent to 56.10 pesos. Metropolitan Bank & Trust Co. (MBT PM), the second-largest lender, climbed 1.5 percent to 70 pesos.
DBS Group Holdings Ltd. (DBS SP): The banking unit of Southeast Asia’s biggest lender plans to sell five-year dollar bonds at a spread of between 100 to 105 basis points more than similar maturity Treasuries, according to a person familiar with the matter. DBS Group gained 0.1 percent to S$14.26.
Hyundai Engineering & Construction Co. (000720 KS): The company’s creditors plan to sell their stake in South Korea’s largest builder for as much as 20 percent more than its market value, an official at one of the debt holders said. Hyundai Engineering fell 1.4 percent to 65,300 won.
Samsung Electronics Co. (005930 KS): The world’s largest television manufacturer said an oversupply of chips in 2011 is likely if personal-computer demand slows further, according to Nikkei English News. Samsung Electronics rose 1 percent to 788,000 won.
Semirara Mining Corp.(SCC PM): The Philippine coal producer’s 12-month share-price estimate was raised 50 percent to 150 pesos by Deutsche Bank AG analyst Klyne Resullar on valuations and higher earnings forecasts. “Semirara continues to look attractive,” said Resullar, who kept a “buy” rating on the shares. The stock fell 0.5 percent to 125.50 pesos.
Swire Pacific Ltd. (19 HK): The Hong Kong office landlord said its units have agreed to sell the stakes they hold in Crown Beverage Cans Hong Kong Ltd. and Crown Swire Investment Co. to Crown Packaging Investment (H.K.) Ltd. for $150 million, according to a statement to the Hong Kong stock exchange. Swire fell 0.2 percent to HK$98.50.
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