Bloomberg News

China Vanke, SAIC, San Miguel: Asia Ex-Japan Equity Preview

June 07, 2011

June 8 (Bloomberg) -- 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.

China Vanke Co. (000002 CH): The country’s biggest developer said sales in May rose 76.4 percent from a year earlier to 9 billion yuan ($1.4 billion). The stock rose 0.3 percent to 7.81 yuan.

Dongfeng Automobile Co. (600006 CH): The company that makes light trucks in China with Nissan Motor Co. said its sales in May were 28,205 units and production was 28,490 units. The shares jumped 0.4 percent to 4.55 yuan.

Guoyuan Securities Co. (000728 CH): The brokerage’s net income in May was 30.42 million yuan and sales were 124.2 million yuan. The shares added 0.2 percent to 11.16 yuan.

Inner Mongolian Baotou Steel Union Co. (600010 CH): The company and Pangang Group Steel Vanadium & Titanium Co. (000629 CH) signed an agreement to develop rare earth mines in the southwestern Chinese province of Sichuan, the 21st Century Business Herald reported. The stock soared by the daily limit of 10 percent to 8.35 yuan.

SAIC Motor Corp (600104 CH): The automaker said its May vehicle sales were 304,423 units and production was 295,474 units. The shares fell 0.5 percent to 17.35 yuan.

San Miguel Corp. (SMC PM): The largest Philippine food and drinks company plans to double the power-generation capacity at its energy units in five years, Chairman Eduardo Cojuangco said. The company may sign an “international acquisition” by next month, President Ramon Ang said separately. Ang also said that San Miguel is preparing to sell shares in most of its units, possibly within the year, to meet the bourse’s minimum requirement on public ownership. The stock fell 0.3 percent to 116.10 pesos.

--With assistance from Ian Sayson in Manila. Editor: John McCluskey.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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