Monday, June 13, 2011

Hong Kong Stock Market Wrap June 9th, 2011

Celestial Asia Securities (1049 HK) noted a decrease of 16 percent of its share price and a drop of trading volume yesterday and the company is not aware of any reasons for such movements. Its future share placing is still on the way according to plan. (Hong Kong Economic Times A15)

China Merchants Holdings (144 HK) notes that as demand in the shipping industry softened in the second quarter for cyclical reasons, it forecast its ports to record throughput growth of around 10 percent this year. (Hong Kong Economic Times A14)

China Overseas Land and Investment (688 HK) said the company realized contract sales amounting to HK$12.13 billion in May 2011, with a sales area of 618,000 square meters. (Hong Kong Economic Times A15)

Daisho Microline Holdings (567 HK) says it may record a net loss for the 6 months ended 31 March 2011, which may reduce its net profit of about HK$19 million for the 6 months ended 30 September 2010. (SingTao Daily B4)

Emperor Capital (717 HK) expects the mobile trading platform through Android will roll out in Q3. (SingTao Daily B6)

Giordano (709 HK) noted that it has not made contact with its shareholder Chow Tai Fook concerning possible acquisition of equity interests in Giordano. (Hong Kong Economic Times A15)

Huscoke Resources Holdings (704 HK) has entered into a provisional agreement to dispose of Units No: 4203-04, Far East Finance Center, 16 Harcourt Road, Admiralty at a consideration of HK$178,164,000. (SingTao Daily B4)

Minmetals Land (230 HK) reported Jan-May contracted sales of RMB2.1b, up over 4x yoy. (SingTao Daily B6)

PCCW Limited (8 HK) proposed a spin-off by way of a separate listing of a business trust on the main board of the HK Stock Exchange. The expected proceeds from this spin-off will amount to US$1.2 billion-US$2 billion. (Hong Kong Economic Journal P4)

Skyworth Digital Holdings (751 HK) will invest RMB2.5b to increase its production of refrigerators, washing machines and LCD TVs in Lishui, Nanjing. Its flat panel TV sales volume booked a yoy growth of 19% in May 2011. (SingTao Daily B5)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard