Bloomberg News

China Green, China Minsheng Banking: Hong Kong Equities Preview

September 01, 2011

Sept. 2 (Bloomberg) -- The following companies may have significant price changes in Hong Kong trading. Stock symbols are in parentheses. Share prices are as of the last close.

The Hang Seng Index gained 0.3 percent to 20,585.33. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, lost 0.2 percent to 10,922.53.

Banks: China won’t see a material increase in non- performing loans emanating from local government financing vehicles, Andy Rothman, China macro strategist at CLSA Asia- Pacific Markets, said on a conference call.

Industrial & Commercial Bank of China Ltd. (1398 HK), the world’s largest bank by market value, climbed 0.8 percent to HK$5.16. China Construction Bank Corp. (939 HK) rose 1 percent to HK$5.84.

Developers: Shanghai’s new home average price fell 1.1 percent in August from the previous month, property consultant Shanghai UWin Real Estate Information Services Co. said.

China Overseas Land & Investment Ltd. (688 HK), controlled by the nation’s construction ministry, increased 1.2 percent to HK$16.74. China Resources Land Ltd. (1109 HK), a state- controlled developer, climbed 0.9 percent to HK$12.82.

China Green (Holdings) Ltd. (904 HK): The agricultural products supplier said it bought back 61.8 million yuan of convertible notes. 1.29 billion yuan of notes remains outstanding, the company said. The stock increased 1.9 percent to HK$2.72.

China Minsheng Banking Corp. (1988 HK): The nation’s first non-state lender said it has won approval from China’s banking regulator to issue new shares and bonds, raising as much as 29.4 billion yuan. The stock rose 1.2 percent to HK$6.55.

Esprit Holdings Ltd. (330 HK): The clothier said it expects full-year profit to drop due to unspecified store restructuring costs. Net income for the year ending June 30, 2011, will “record a significant decrease” compared with the year earlier, based on a preliminary assessment by the board. Esprit expects to post full-year earnings on Sept. 15. The stock was unchanged at HK$21.85.

Galaxy Entertainment Group Ltd. (27 HK): Permira Advisers LLP, the London-based buyout firm that controls German clothing designer Hugo Boss AG, sold $613 million of shares in Galaxy. Galaxy, the Macau casino operator, sank 4.2 percent to HK$18.66.

Lenovo Group Ltd. (992 HK): The maker of personal computers is growing faster than the overall market, Milko Van Duijl, senior vice-president at the mature markets division, said. The company is also looking at “everything” for acquisitions, he said. The stock was unchanged at HK$5.22.

Li Ning Co. (2331 HK): Viva China Holdings Ltd. (8032 HK) said it canceled a planned purchase of stock in Li Ning because of changes in market conditions. Li Ning shares fell 2.2 percent to HK$10.46. Viva China shares slipped 1.6 percent to 12.4 Hong Kong cents.

Sino Land Co. (83 HK): The smallest developer in Hong Kong’s seven-member property index said full-year profit excluding revaluation gains rose 26 percent after it booked more profits from apartment sales. The stock rose 2.2 percent to HK$12.16.

Tencent Holdings Ltd. (700 HK): Chairman Ma Huateng sold 5 million shares of his company at an average price of HK$144.325 a share on Aug. 29., according to data on the website of the Hong Kong stock exchange. The shares weren’t sold on the exchange, the disclosure said. Tencent climbed 1.4 percent to HK$187.60.

--Editor: Nick Gentle

--Editor

To contact the reporter on this story: Anna Kitanaka in Tokyo at akitanaka@bloomberg.net.

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


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