Bloomberg News

Citic Pacific, Cnooc, Datang, Sun Hung: Hong Kong Stock Preview

July 17, 2011

July 18 (Bloomberg) -- The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the close on July 15.

The Hang Seng Index lost 0.3 percent to 21,875.38. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, declined 0.5 percent to 12,266.32.

Mining companies: Copper futures for September delivery rose 0.8 percent on the Comex in New York.

Jiangxi Copper Co. (358 HK), China’s biggest producer of the metal, fell 1.8 percent to A$27. Aluminum Corp. of China Ltd. (2600 HK), the listed unit of nation’s biggest maker of the lightweight metal, was unchanged at HK$6.19.

Oil stocks: Crude for August delivery rose 1.6 percent on the New York Mercantile Exchange.

PetroChina Co. (857 HK), the nation’s largest oil company, gained 0.2 percent to HK$11.48. Cnooc Ltd. (883 HK) added 0.3 percent to HK$17.92.

Hong Kong developers: Hong Kong will sell a residential site in the city’s Sai Kung area and another in Stanley by public tender, the government said in a statement on its website.

Sun Hung Kai Properties Ltd. (16 HK) fell 0.4 percent to HK$114.40. Cheung Kong Holdings Ltd. (1 HK), the No. 2, rose slipped 0.4 percent to HK$112.10.

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.

Citic Pacific Ltd. (267 HK): The Hong Kong-based real- estate developer and steelmaker plans to sell its 50 percent of cable television-network owner Citic Guoan Co. to parent Citic Group. The sale is part of a plan to focus on steelmaking, iron- ore mining and property development in China, according a Hong Kong stock exchange filing. Citic’s shares slid 0.3 percent to HK$18.40.

Datang International Power Generation Co. (991 HK): The company said first-half power generation rose 19 percent to 96.2 billion kilowatt-hour from a year earlier. It cited higher demand for electricity and an increase in capacity of its operational generating units for the growth. Datang’s shares dropped 0.8 percent to HK$2.59.

Hong Kong Exchanges & Clearing Ltd. (388 HK): The bourse operator said people falsely claiming to represent the exchange have approached investors in the city and mainland China seeking money to invest in securities.

The exchange hasn’t authorized anyone to engage in fundraising, nor authorized anyone to offer any investment services, according to a statement posted on the bourse operator’s website. The company’s shares sank 0.7 percent to HK$161.

Techtronic Industries Co. (669 HK): The maker of Ryobi power tools and Hoover vacuum cleaners said it’s in talks over the possible sale of TTI Floor Care North America Inc., a construction tools provider, and has appointed a financial adviser in connection with the matter. The stock gained 2.7 percent to HK$8.38.

--Editor: John McCluskey.

To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.

To contact the editors responsible for this story: Nick Gentle at ngentle2@bloomberg.net.


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