Chalco, Cnooc, Evergrande, Ping An: Hong Kong Equity Preview

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 fell 1.4 percent to 23,092.52. The Hang Seng China Enterprises Index, which tracks so-called H shares of Chinese companies, slid 1.4 percent to 12,735.86.

Aluminum Corp. of China Ltd. (2600 HK): Chairman Xiong Weiping said he expects the company to post an annual net profit for this year, compared with a net loss of 7.25 billion yuan ($1.1 billion) last year, the China Daily reported. The stock fell 1.7 percent to HK$7.14.

Bank of Communications Co. (3328 HK): The bank that’s part- owned by HSBC Holdings Plc said it has set up a rural banking unit in Xinjiang. The stock declined 1.2 percent to HK$8.07.

China Construction Bank Corp. (939 HK): The lender aims to buy stakes in Taiwan banks, the Commercial Times reported, citing Chairman Guo Shuqing. The company is also planning to apply to the regulators to set up an office on the island, according to the Taipei-based Chinese-language daily. The stock retreated 0.9 percent to HK$7.

China Metal Resources Holdings Ltd. (8071 HK): The hardware and software product trader said it will raise a net HK$276 million ($35.5 million) for potential future purchases through a private placing of up to 1.42 billion shares at 20 Hong Kong cents each. The company said it has made an application to resume trading after its suspension yesterday.

Cnooc Ltd. (883 HK): Cnooc’s parent company, China National Offshore Oil Corp., signed an accord to buy a 50 percent stake in Exoma Energy Ltd.’s exploration blocks in Queensland for A$50 million ($49.3 million), according to Exoma, a Brisbane-based oil and gas exploration company. Cnooc sank 2.4 percent to HK$17.92.

Evergrande Real Estate Group Ltd. (3333 HK): The developer’s contract sales this year will be more than 50 billion yuan, Radio Television Hong Kong reported, citing Vice Chairman Xia Haijun. The company is targeting 100 billion yuan in annual contract sales in two years’ time, the broadcaster cited Xia as saying. The stock gained 2.3 percent to HK$4.09.

Ping An Insurance Group Co. (2318 HK): China’s second- biggest insurer may pay 6.58 billion yuan for a stake in Shanghai Jahwa United Co., the China Business News reported today, citing an unidentified person close to Shanghai’s state- owned assets agency. Ping An slid 2 percent to HK$89.70.

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