July 18 (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.
Philippine banks, builders: Funds sent home by Filipinos working and living overseas grew 6.9 percent in May to $1.7 billion from a year earlier, accelerating from a 6.3 percent gain in April, according to the central bank. Remittances from overseas Filipinos usually pass through banks and help fund purchases of property. Banco de Oro Unibank Inc. (BDO PM), the nation’s largest bank by assets, increased 0.9 percent to 57 pesos. Ayala Land Inc. (ALI PM), the nation’s biggest developer, rose 0.6 percent to 16.20 pesos.
China Zhongwang Holdings Ltd. (1333 HK): The manufacturer of extruded aluminum products said profit for the six months ended June 30 is expected to decline “substantially” from a year earlier on lower export sales to the U.S., according to a statement to the Hong Kong stock exchange. China Zhongwang lost 2.2 percent to HK$3.60.
Chunghwa Telecom Co. (2412 TT): Taiwan’s largest phone operator may invest more than NT$200 billion ($6.9 billion) in fixed-line infrastructure over 10 years as part of local telecommunications companies’ commitment to next-generation networks, the National Communications Commission said in a statement. Chunghwa Telecom and Taiwan Mobile Co. (3045 TT), the second-largest, may invest a total of more than NT$26.8 billion in wireless networks in four years, it said. Chunghwa advanced 1 percent to NT$105.50 and Taiwan Mobile rose 0.5 percent to NT$76.
First Philippine Holdings Corp. (FPH PM): The company bought back 129,530 of its own shares at 60.90 pesos each in the open market, a stock exchange-filing showed. The stock climbed 0.6 percent to 61.25 pesos.
Fortescue Metals Group Ltd. (FMG AU): The Australian iron- ore producer is discussing a ship order worth as much as $480 million with yards in China and South Korea, TradeWinds reported. Fortescue slipped 0.2 percent to A$6.41.
Pos Malaysia Bhd. (POSM MK): The national postal company signed an agreement with Korea Post to cooperate on undertaking new postal services and seek new business opportunities, it said in a statement. Pos was unchanged at 3.21 ringgit.
Samsung Life Insurance Co. (032830 KS): South Korea’s biggest life insurer will spend 652.8 billion won ($615 million) to develop commercial land in Beijing, according to a regulatory filing. Samsung Life climbed 0.6 percent to 95,400 won.
Universal Microelectronics Co. (2413 TT): The maker of electronic components plans to buy back 3 million shares, or 2.32 percent of those outstanding, the Taichung, Taiwan-based company said in an exchange filing. Universal Microelectronics rose 1.5 percent to NT$13.40.
--With assistance from Ian C. Sayson in Manila, Chan Tien Hin in Kuala Lumpur. Editor: John McCluskey.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com