Bloomberg News

Hyundai, PLDT, Qube, United Micro: Asia Ex-Japan Equity Preview

September 01, 2011

Sept. 2 (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.

CJ O Shopping Co. (035760 KS): The South Korean company’s stock rating was cut to “trading buy” from “buy” with a 12- month share price estimate at 330,000 won by Mina Kim, an analyst at Daewoo Securities Co. The stock slid 1.6 percent to 273,700 won.

Hyundai Heavy Industries Co. (009540 KS): Hyundai Oilbank Co., South Korea’s fourth-largest refiner, began commercial operation of a 2.6 trillion won ($2.5 billion) heavy oil upgrading plant to raise output of higher-priced, cleaner- burning fuels, according to an e-mailed statement. Hyundai Heavy, which plans to list shares of the refiner, fell 0.6 percent to 344,500 won.

Philippine Long Distance Telephone Co. (TEL PM): SPi Global, a unit of the nation’ largest phone company, has added Australia among the overseas markets where if offers outsourced business services, a Philippine Stock Exchange filing showed. PLDT, as the stock is also called, increased 1.3 percent to 2,420 pesos.

Qube Logistics Holdings Ltd. (QUBDA AU): The Australian company issued 164.09 million shares to complete the purchase of unlisted logistics businesses from their vendors, a stock- exchange filing showed. The stock gained 0.3 percent to A$1.47.

RDC Semiconductor Co. (3228 TT): The Taiwanese designer of integrated circuits posted a 15 percent decline in sales to NT$27.91 million ($963,000) in August from a year earlier, a stock-exchange filing showed. The stock climbed 7 percent to NT$27.70.

Seven West Media Ltd. (SWM AU): The owner of Australia’s top-rating television network asked banks to submit proposals as it seeks to refinance up to A$2.2 billion ($2.4 billion) of debt, according to a person familiar with the matter. Proceeds will be used to help refinance a A$2.55 billion facility that Seven Media Group signed in February 2007 and which matures in 2013, the person said, asking not to be identified as details are private. The stock was unchanged at A$3.65.

United Microelectronics Corp. (2303 TT): The world’s second-largest contract maker of chips bought NT$560 million of equipment from Tokyo Electron Ltd. from Aug. 4 to Sept. 1, a stock-exchange filing showed. The stock climbed 4 percent to NT$11.75.

--Editors: Jim McDonald, 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


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus