• Sun
  • Dec 28, 2014
  • Updated: 12:35am
Stock Talk
PUBLISHED : Monday, 22 October, 2012, 8:21am
UPDATED : Monday, 22 October, 2012, 8:58am

Market Open:Hong Kong stocks seen lower ahead of Q3 earnings

Hong Kong stocks are seen retreating on Monday as investors take profit after the benchmark index posted its longest winning streak since January 2011, ahead of thousands of third-quarter earnings reports from A share companies which may drag the market down.

 

Hong Kong stocks are seen retreating on Monday as investors take profit after the benchmark index posted its longest winning streak since January 2011, ahead of thousands of third-quarter earnings reports from A share companies which may drag the market down.

Bank of China (3988.HK), Agricultural Bank of China (1288.HK) and China Construction Bank (0939.HK) are among companies that are due to announce third-quarter results this week. More than 1,500 A share firms are due to report quarterly earnings this week.

Last Friday, the Standard & Poor's 500-stock index closed down 24.15 points, or 1.66 per cent, to close at 1,433.19. The Nasdaq Composite lost 67.24 points, or 2.19 per cent, to 3,005.62. In London, the FTSE-100 Index added 0.35 points, or 0.35 per cent, to end at 5,896.15.

Hot Stocks of the Day:

NVC Lighting (2222.HK)
The company's five types of LED products have won subsidies from the Ministry of Finance to help promote NVC's products nationwide.

Yanzhou Coal (1171.HK)
The Chinese coal miner said its raw coal contribution from partly-owned Yancoal Australia had risen 26 per cent to 14.87 million tonnes for the first nine months of 2012.

Zhaojin Mining (1818.HK)

The gold miner said it has gained approval from China Securities Regulatory Commission (CSRC) to issue up to 1.2 billion yuan in domestic corporate bonds to the public.

Xiangyu Dredging Holdings (0871.HK)
The Jiangsu-based firm said it signed a deal with Hunan-based Zhuzhou Cyclic Economy Investment and Development on Friday to develop a new joint venture in Hunan. The 2 billion yuan deal is 1.75 times the firm's 2011 revenue.

Franshion Properties China Ltd. (0817.HK)

The Chinese developer said it will issue US$500 million worth of five-year notes at yield of 4.6 per cent. Proceeds will be used to repay debt and for working capital.
 

Share

For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive
 
 

 

 
 
 
 
 

Login

SCMP.com Account

or