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Bank of China, Chalco, Poly: Hong Kong Equity Preview

Tuesday, Jul 06, 2010
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July 6 -- 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 dropped 0.3 percent to 19,842.20. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, declined 0.6 percent to 11,184.33.


Aluminum Corp. of China Ltd. (2600 HK): The company extended the deadline for its planned private placement of so- called yuan denominated A-shares by one year, according to a statement. The deadline had been Aug. 23, the statement said. Chalco, as China’s biggest producer of aluminum is known, slid 2.1 percent to HK$5.71.


Bank of China Ltd. (3988 HK)): The bank said its controlling shareholder, Central Huijin Investment Ltd., will take up its full entitlement in the forthcoming rights offer. Bank of China, the nation’s third-largest bank by market value, declined 1.3 percent to HK$3.92.


Glorious Property Holdings Ltd. (845 HK): The company’s contracted sales rose 34 percent to 4.2 billion yuan ($620 million) in the first half, the Standard reported, citing Chief Executive Officer Cheng Lixiong. The Chinese developer has a “cautious” outlook for the second half, according to the newspaper. The stock climbed 1.9 percent to HK$2.20.


Poly (Hong Kong) Investment Ltd. (119 HK): The company said yesterday contracted sales in the first half rose 24 percent from a year earlier to 4.7 billion yuan. Poly, a developer in China, declined 2.8 percent to HK$7.74.


Yuzhou Properties Co. (1628 HK): The company, a developer of residential properties in southern China, said yesterday it will invest 3 billion yuan in a real estate project in China’s Quanzhou city. The stock gained 0.8 percent to HK$2.53.

(source : Bloomberg)


 

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