Bloomberg News

Hyundai Glovis, Longfor Properties, Mitsui: Asia Stocks P

June 26, 2012

The following companies may have unusual price changes in Asian trading tomorrow.

Stock symbols are in parentheses and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.

Chow Tai Fook Jewellery Co. (1929) (1929 HK): The Hong Kong-based jeweler said its profit for the year ended March 31 jumped 79 percent to HK$6.34 billion ($817 million) from a year earlier. The stock declined 1.9 percent to HK$9.22.

Hyundai Glovis Co. (086280 KS): The company plans to spend 249 billion won ($215 million) to buy car carrier ships, according to a regulatory filing. The South Korean logistics company fell 2.2 percent to 218,000 won.

Longfor Properties (960) (960 HK): The Beijing-based property developer won bid for land plots in China’s Xiamen city for a combined 1.74 billion yuan ($273 million), according to an e- mailed statement. The stock rose 1 percent to HK$12.04.

MindTree Ltd. (MTCL) : The Indian software services provider expects sales growth to slow to 14 percent this year as the debt crisis in Europe forces customers to postpone spending on technology, Chief Executive Officer Krishnakumar Natarajan said in an interview in the southern city of Chennai. Shares rose 1.2 percent to 617.65 rupees.

Mitsui & Co. (8031) (8031 JT): BP Plc, the oil producer that’s selling assets to help pay for the 2010 Gulf of Mexico spill, sold stakes in two North Sea fields to Mitsui for $280 million. Mitsui stock declined 1.7 percent to 1,123 yen.

Nippon Steel Corp. (5401) (5401 JT): The company registered to sell as much as 300 billion yen ($3.8 billion) of bonds, according to a filing with Japan’s Finance Ministry. Nippon Steel lost 1.7 percent to 174 yen.

To contact the reporter on this story: Kana Nishizawa in Hong Kong at knishizawa5@bloomberg.net

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


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