SINGAPORE
The Monetary Authority of Singapore announced plans to sell a S$1.5B 15-year government bond with a 3.5% coupon.
Genting Singapore (GENS)'s Resorts World Sentosa and Las Vegas Sands Corp's Marina Bay Sands have been fined S$140K and S$358K respectively by Singapore 's Casino Regulatory Authority for disciplinary breaches.
US indices were mixed on Wednesday. On the US economic data front, MBA mortgage applications for the week ended August 17th fell 7.4%. Existing home sales increased 2.3% MoM (+3.2% expected) in July according to the National Association of Realtors. Many FOMC participants favored easing soon if no sustained growth pickup according to Minutes of FOMC. Stocks in the materials and technology hardware & equipment sectors traded higher while shares in the semiconductors and commercial professional services sectors were under pressure. Looking at some US corporate releases, Toll Brothers (TOL +3.77% to $33.01) posted for its 3Q an EPS of $0.36 ($0.18 expected) compared to $0.25 a year ago with revenues up 41% YoY to $554M. Separately, Dell (DELL -5.35% to $11.68) posted 2Q adjusted EPS down 7.4% YoY to $0.50 ($0.45 expected) on revenue of $14.5B, down 7.5% YoY. In other news, Intuit (INTU +1.19% to $59.65) swung to 4Q EPS of $0.01 ($0.06 expected) from LPS of $0.19 a year ago (adjusted EPS up 50.0% YoY to $0.03) on revenue of $651M, up 13.6%. After the US market close, Hewlett Packard (HPQ) posted a 3Q adjusted EPS of $1.00 ($1.10 a year ago) on revenue of $29.67B vs $29.70 expected, down 5% YoY.
No major economic data was released yesterday in Europe. Regarding the stocks, BHP Billiton dropped as FY profit slumped. Heineken lost ground as the Co posted 2Q results below estimates. This morning, the Nikkei225 index opened lower, and is likely to pull back to test its moving average support.
CHINA - HK
China 's Ministry of Commerce offered a second round of rare earth export quota of 9,770 tons for 2012, bringing the total 2012 export quota to 30,996 tons, up 2.7% YoY.
ZTE Corp (763) said 1H net income plunged 68.2% YoY to 245M yuan on revenue of 42.6B yuan, down 15.2%, citing "reduced investment income, exchange losses, postponement of network contract tenders of certain domestic carriers and lower gross profit margin".
Henderson Land Development (12) posted 1H net income down 12.4% YoY to HK$7.7B and underlying profit (before the fair value change of investment properties and investment properties under development) up 4.7% to HK$3.6B. 1H turnover fell 32.5% to HK$7.2B. The Co proposed an interim dividend of HK$0.32 per share vs HK$0.30 a year earlier.
CSR Corp (1766) announced 1H net income down 6.2% YoY to 1.9B yuan on revenue of 41.8B yuan, up 5.8%.
China Communications Construction (1800)'s unit Shanghai Zhenhua Heavy Industries Co has secured a $170M contract to build heavy-lifting equipment for the Jeble Ali port in Dubai.
China Eastern Airlines (670) announced the purchase from its parent group the remaining 20% stake in China United Airlines, which is "principally engaged in the business of domestic passenger and freight air transportation and agency business among airlines", for 84M yuan in cash.
Television Broadcasts Ltd (511) unveiled 1H net income up 18.3% YoY to HK$850M on turnover of HHK$2.5B, up 3.6%. The Co declared an interim dividend of HK$0.60 per share vs HK$0.45 a year before.
Intime Department Store (1833) reported 1H net income up 13.7% YoY to 547M yuan on revenue of 1.9B yuan, up 20.1%. 1H same store sales growth fell to 9.2% from 28.4% in the previous year.
Wumart Stores (1025) said 1H net income edged up 0.5% YoY to 339M yuan on revenue of 8.6B yuan, up 7.2%. 1H comparable store sales growth was 3.9% vs 12.0% a year earlier.
Li Ning Co (2331)'s 1H net income plummeted 84.9% YoY to 44M yuan on revenue of 3.9B yuan, down 9.5%. The Co said it expected a net loss (2011 net income: 386M yuan) and further decline in revenue for 2012.
Tong Ren Tang Technologies (1666) posted 1H net income up 24.1% YoY to 212M yuan on revenue of 1.4B yuan, up 24.8%. Meanwhile the Co announced Executive Director Xie Zhan Zhong has been elected as vice chairman of the Co.
Google Trend HK - popular searches: China Telecom (728)
China Unicom Hong Kong (762), China Minsheng Banking Corp (1988), Hubei Yihua Chemical IND (000422), China Minsheng Banking Corp (600016), China United Network Communications (600050), Rising Nonferrous Metals Share Co (600259), Yunnan Chihong Zinc & Germanium (600497), Shanxi Coal International Energy Group (600546), Xinhu Zhongbao (600208), Dashang Group (600694), Huayu Automotive Systems (600741), Chengdu Dr Peng Telecom & Media Group (600804), China XD Electric (601179), Neusoft Corp (600718), Gansu Yasheng Industrial Group Co-A (600108): 2Q results expected.
Bank of China (3988), BOC Hong Kong (2388), Wharf Holdings (4), Ping An Insurance (2318), China National Building Material (3323), Maanshan Iron & Steel (323): 1H results expected.
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