Bloomberg News

AU, Cellestis, Posco, San Miguel: Asia Ex-Japan Stock Preview

July 27, 2011

July 28 (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.

Liquor-makers: Philippine liquor manufacturers asked Congress to suspend hearings and actions on measures seeking to amend excise taxes on their products while the government appeals a World Trade Organization ruling on distilled spirits, according to a statement of the Distilled Spirits Association of the Philippines.

San Miguel Corp. (SMC PM), the nation’s largest food and drinks company, gained 0.1 percent to 128 pesos. Alliance Global Group Inc. (AGI PM), the nation’s biggest maker of brandy, fell 0.2 percent to 11.36 pesos. Ginebra San Miguel Inc. (GSMI PM), the No. 1 gin-maker, declined 1 percent to 30.20 pesos. Tanduay Holdings Inc. (TDY PM), the nation’s largest maker of rum, was unchanged at 5.10 pesos.

AU Optronics Corp. (2409 TT): Taiwan’s second-largest maker of liquid-crystal displays posted its third consecutive quarterly loss after slower demand for televisions hurt prices and revenue. The company’s second-quarter net loss was NT$10.8 billion ($375 million), compared with a profit of NT$11 billion a year earlier. The average of 17 analyst estimates compiled by Bloomberg was for a loss of NT$4.5 billion. The stock rose 0.3 percent to NT$17.75.

Cebu Air Inc. (CEB PM): The largest Philippine budget carrier flew the most number of passengers to and from the nation’s southern city of Davao in the second quarter, a stock- exchange filing showed. It will add flights to the route starting October, the filing showed. The stock rose 0.6 percent to 84.70 pesos.

Cellestis Ltd. (CST AU): Cellestis said Australia’s Foreign Investment Review Board has notified Qiagen Australia Holding Pty that the government has no objection to its proposal to acquire the company. The stock was unchanged at A$3.76.

Formosa Petrochemical Corp. (6505 TT): The resumption of production at the company’s No. 1 ethylene plant is being evaluated, a stock-exchange filing showed. The stock rose 0.5 percent to NT$109.50.

LG Electronics Inc. (066570 KS): The world’s third-largest maker of mobile phones expects profitability to decline in the third quarter from the second quarter because of seasonally weak demand for home appliances and air conditioners, Chief Executive Officer David Jung said. The company’s handset shipments will also likely decline as it reduces output of basic phones. The stock rose 2.6 percent to 83,800 won.

Posco (005490 KS): The world’s second-biggest maker of stainless steel will raise domestic prices by 100,000 won per metric ton after prices of nickel, a key raw material, increased, said Chung Jae Woong, a spokesman for the Pohang, South Korea- based company. The stock fell 1.4 percent to 473,500 won.

--With assistance from Berni Moestafa in Jakarta and Tien Hin Chan in Kuala Lumpur. Editor: Ravil Shirodkar, John McCluskey.

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

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


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