Author: Business News Asia

HONG KONG – Shares of Chinese multinational computer technology firm Lenovo Group Limited (HKG:0992) declined 3.38 percent in today’s trading session at the Hong Kong stock exchange. Lenovo Group Limited’s stock lost 0.23 today to trade at 6.57 at the close. The stock opened at 6.89 and rallied to hit a high of 6.90 until it plunged to 6.57 at the closing bell. The stock has a one month high of 7.44 and a one month low of 6.140. It also has a 52-week high of 14.095 and a low of 6.020. Last week, Beijing Digital Telecom (HKG:06188) announced that…

HONG KONG – Sands China Ltd (HKG:1928)’s stock gained 8.79 percent in today’s trading session at the Hong Kong stock exchange to trade at 27.85 at the close. Shares of Sands China Ltd (HKG:1928) rose on Tuesday on the back of a report that Macau’s casino gross gaming revenue (GGR) improved 40 percent to 50 percent in the first few days of October from September’s average run rate. “Given the continued depressed sentiment over the sector and investors’ low expectations for Golden Week, the research house believes that share prices will react positively to this news,” said Daiwa Research in…

Shares of Hong Kong Exchanges and Clearing Ltd (HKG:0388) declined by 0.11 percent in today’s trading session after it announced that it will not change any listing rules. Hong Kong Exchanges and Clearing Limited’s stock traded at 186.50 at the close in Tuesday’s trading, 0.20 lower than its previous close. The Hong Kong Exchanges and Clearing (HKEx) announced in a statement that it will not change any listing rules even if these rules were among the reasons why Alibaba decided to go to New York for its USD25bn IPO. The HKEx stated that its listing committee had agreed not to…

HONG KONG – Shares of Chinese state-owned China Mobile Communications Corporation (HKG:0941) declined by 1.27 percent in today’s session at the Hong Kong Stock Exchange to trade at 93.50 at the close. China Mobile’s stock opened higher at 96.00 but dropped to 92.50 until it settled at 93.50 on Tuesday’s close. A total of 40.12 million shares exchanged hands. Last August, the company named Shang Bing as its new Chairman as it seeks to strengthen its fixed-line broadband operations and magnify its 4G network. The decision was taken by China’s cabinet that Mr. Bing, the ex-vice minister of China’s communication…

Philippine stocks continue their winning streaks as the Philippine Stock Exchange Index (PSEi) gained 1.34 percent and All Shares ended 0.50 percent higher in today’s trading session at the Philippine Stock Exchange. The PSEi gained 93.56 points to end the day at 7,055.49 while All Shares added 20.23 points to hit 4,031.78. All of the indexes posted gains, led by Services, which ended the day 2.51 percent higher. The best performer was TKC Steel Corporation (PSE:T), which gained 23.21 percent to trade at Php1.68 at the close. Other stocks that posted double-digit gains in today’s close were Splash Corporation (PSE:SPH),…

PHILIPPINES – Bloomberry Resorts Corporation (PSE:BLOOM)’s stock continues to gain in today’s trading session at the Philippine Stock Exchange, ending the day at Php5.70 apiece. Bloomberry leads 22 other blue chips stocks that gained in today’s session, as the Philippine Stock Exchange Index (PSEi) also continued to post gains this week. Shares of Bloomberry were up 7.34 percent from Monday’s close, although the price is still away from its 52-week high of Php15.82 apiece. Bloomberry saw a total of 20.51 million shares exchanging hands in today’s trading, with a value of Php114.074 million. Meanwhile, another blue chip stock suffered a…

PHILIPPINES – Port operator International Container Terminal Services, Inc (PSE:ICT) announced on Tuesday the promotion of three officers to key senior positions. In a disclosure to the Philippine Stock Exchange, ICTSI said it board of directors approved the promotion of officers during its board meeting on October 5. Martin O’Neil was promoted to Executive Vice President from Senior Vice President and Chief Financial Officer, effective 05 October. O’Neil holds 2,790 direct shares in the company. Rafael Consing Jr was also promoted to Senior Vice President and Chief Financial Officer from Vice President and Treasurer. Jose Joel Sebastian was also appointed…

AUSTRALIA – Shares of Watpac Limited (ASX:WTP) slightly gained in early trading at the Australian Stock Exchange today after the company announced that it was appointed as preferred contractor for AUD257 million Ryde Garden Residential Development Contract. In a disclosure, Watpac Limited (ASX:WTP) said it has been appointed as preferred contractor by Chinese developer, Country Garden Australia, to deliver a AUD257 million contract for the Ryde Garden residential development at North Ryde, 15 kilometers north west of the Sydney central business district. A letter of intent has been executed by the parties. “The group is currently working with Country Garden…

PHILIPPINES – Manila Water Company, Inc. (PSE:MWC) raised its investments in its wholly-owned domestic subsidiary, Manila Water Philippine Ventures (MWPV), and its wholly-owned Singapore subsidiary, Manila Water Asia Pacific Pte. Ltd (MWAP). In a disclosure to the Philippine Stock Exchange on Tuesday, Manila Water revealed that its Executive Committee has approved the additional investment of Php418 million in MWPV. The additional investment will be used to fund the operations of MWPV. MWPV, formerly AAA Water Corp., holds shares of various units of Manila Water including Clark Water Corp., Boracay Island Water Co., Inc., Manila Water Consortium Inc. and Total Solutions.…

PHILIPPINES – Shares of Federal Resources Investment Group (PSE:FED) plunged 3.84 percent in today’s trading session to trade at Php12.02 at the close. The decline in Federal Resources Investment Group’s stock came after the company said in disclosure to the Philippine Stock Exchange that its board of directors has approved the acquisition of 1.041 billion issued and outstanding shares of stock of LBC Express, Inc. for the amount of Php1.38 billion. Federal Resources has a pending application with the Securities and Exchange Commission for the increase in its authorized capital stock to P2 billion from P100 million. The company also…

AUSTRALIA – Shares of Liquefied Natural Gas Limited (ASX:LNG) continued to rally on Monday’s trading session at the Australian Stock Exchange, ending the day at AUD1.63, or 15.60% higher from its previous close. Monday’s gains marked the fourth straight day of rise for Liquefied Natural Gas. A total of 6.88 million shares exchanged hands today, although the closing price was still far off the company’s 52-week high of AUD5.0. Liquefied Natural Gas Limited (ASX:LNG) disclosed on Monday that it is not aware of any information concerning the company that could explain the recent tradin in its securities. Liquefied Natural Gas…

PHILIPPINES – Philippine stocks were higher after the close on Monday, with the Philippine Stock Exchange Index (PSEi) gaining 1.63 percent and all of the indeces ending the day in the green. At the close, the PSEi posted gains of 111.93 points to 6,961.93, while all shares posted 1.37 gain. The best performers of the session at the Philippine Stock Exchange (PSE) were BHI Holdings Inc (PSE:BH), which rose 48.78 percent to trade at Php669.50 at the close. TKC Steel Corporation (PSE:T) also gained 27.27 percent to trade at Php1.68 at the end of the trading session, followed by ATN…

MALAYSIA – Shares of Nestle (Malaysia) Berhard (NESZ:MK) inched higher on Friday’s trading at the Bursa Malaysia, leading a list of top gainers with a 1.08 percent rise. Nestle (Malaysia) Berhard’s stock traded at 72.88 on Friday’s trading session, up 0.78 from its previous close. Nestlé is one of the oldest brands in the country that has grown together with the nation and was listed on the Bursa Malaysia in 1989. The Company has since grown in depth and magnitude, taking its place as part of the Malaysian psyche and part of the community. Another gainer on Friday’s trading at…

AUSTRALIA STOCK EXCHANGE – Shares of AGL Energy Limited (ASX:AGL) declined 2.32 percent on Friday’s trading session at the Australian Stock Exchange despite Citi’s announcement that it remains bullish on the company’s profits. On Friday, AGL Energy Limited (ASX:AGL)’s stock dropped to AUD16.00 a share, or AUD0.38 lower than its previous close. AGL Energy Limited operates Australia’s largest retail energy and dual fuel customer base and consist of a substantial portfolio of wholesale energy contracts and assets to support its retail customer base. A total of 1.74 million AGL Energy shares exchanged hands, sending the stock to hit a day’s…

AUSTRALIA – Shares of Liquefied Natural Gas Limited (ASX:LNG) traded higher at the Australia Stock Exchange on Friday, ending the trading day at AUD1.41 apiece. Liquefied Natural Gas Limited is an Australian public company based in Perth, Western Australia. Its business is to bring a dynamic concept of mid-scale liquefied natural gas (“LNG”) projects to the international energy market. On Friday’s trading, Liquefied Natural Gas Limited (ASX:LNG)’s stock was up 5.22 percent with a total of 3.63 million shares exchanging hands. The stock opened at AUD1.35 and reached a day’s high of AUD1.43 and a low of AUD1.31. Liquefied Natural…

Cebu Air, Inc. (PSE:CEB), which operates Cebu Pacific Air, has announced on Friday the appointment of a new chief financial officer. In a disclosure to the Philippine Stock Exchange, Cebu Air, Inc. (PSE:CEB) said Andrew L. Huang has been appointed as Chief Financial Officer. Huang has no beneficial ownership over any shares of Cebu Air, Inc, the company has disclosed. It did not provide the background of Huang. On Friday, shares of Cebu Air, Inc. (PSE:CEB) dropped by 0.46 percent, ending the trading session at Php87.35 from Php87.75 previously. A total of 210,660 shares with a value of Php18.40 million…

Shares of PetroEnergy Resources Corporation (PSE:PERC) declined by 7.43 percent on Friday’s trading session at the Philippine Stock Exchange after the company revealed that the Department of Energy (DOE) has suspended operations of one of its service contract areas. PetroEnergy ResourceS Corporation’s stock traded at Php3.24 on Friday, down by Php0.26 from the previous close. A total of 196,000 shares were traded, valued at Php636 million. on Friday, the company disclosed that the DOE has granted a Force Majeure on Service Contract No. 75 (SC75) as this service contract area falls adjacent to SC58 and SC75, both of which remain under…

PHILIPPINES – News about San Miguel Corporation (SMC)’s announcement of a yearly consolidated revenues target to US$50 billion in the next five ears from an estimated US$20 billion at present sent the company’s stock higher in today’s trading at the Philippine Stock Exchange. San Miguel Corporation (PSE:SMC)’s stock gained 2.75 percent to end the day at Php48.50 a share, or Php1.30 higher from its previous close. SMC joined 16 other blue chip stocks at the PSE that gained in today’s trading, led by DMCI Holdings, Inc, which was up 4.40 percent to Php12.8. A total of 513,500 shares with a…

PHILIPPINES – SM Prime Holdings, Inc (PSE:SMPH)’s proposed bond issue of up to Php20 billion has been assigned a rating of PRS Aaa, the highest possible rating, by the Philippine Ratings Services Corporation (Philratings). Obligations rated PRS Aaa by Philratings are of the highest quality with minimal credit risk. PhilRatings is the only domestic credit rating agency that is accredited by the Securities and Exchange Commission and recognized by the Bangko Sentral ng Pilipinas. It is also a founding member of the Association of Credit Rating Agencies in Asia (ACRAA), which now counts 30 domestic credit rating agencies in the…

PHILIPPINES – News about San Miguel Corporation (SMC)’s announcement of a yearly consolidated revenues target to US$50 billion in the next five ears from an estimated US$20 billion at present sent the company’s stock higher in today’s trading at the Philippine Stock Exchange. San Miguel Corporation (PSE:SMC)’s stock gained 2.75 percent to end the day at Php48.50 a share, or Php1.30 higher from its previous close. SMC joined 16 other blue chip stocks at the PSE that gained in today’s trading, led by DMCI Holdings, Inc, which was up 4.40 percent to Php12.8. A total of 513,500 shares with a…