Home THE DAILY EDGE Business June 21: Cosco Corp., Hi-P International, Midas
June 21: Cosco Corp., Hi-P International, Midas

Tags: Cosco Corp. Singapore | Cosco Corporation (S) | Cosco Corporation (Singapore) | Hi-P | Hi-P International | Mercator | Mercator Lines | Mercator Lines (Singapore) | Midas Hldgs | Midas Holdings | STX Pan Ocean | STX Pan Ocean Co | Stx Pan Ocean Co.

Written by Bloomberg   
Monday, 21 June 2010 08:14
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The following companies may have unusual price changes in trading today. Share prices are from the previous close. Singapore’s Straits Times Index dropped 0.4% to 2,833.40. Asian stocks are set to climb on Monday after China said it would allow more yuan flexibility, a move seen as a vote of confidence in the global recovery and a signal to buy riskier assets.

Shipping companies: The Baltic Dry Index, which measures the cost of transporting commodities, dropped 3.2% in London on June 18, taking it 16-day loss to 36%.

Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, fell 0.7% to $1.49. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, slid 1.8% to 27 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, was unchanged at $12.94.

Hi-P International (HIP SP), the contract manufacturer of electronics whose clients include Blackberry-maker Research in Motion, said it expects profit in the second quarter to be lower than a year earlier. HI-P was unchanged at 51 cents.

Midas Holdings (MIDAS SP), a supplier of aluminum extrusion profiles used in train carriages, said it won a contract worth 59 million yuan ($12 million) for the supply of fabricated parts for a train project in China. The stock rose 1.6% to 95.5 cents.

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Last Updated on Monday, 21 June 2010 08:16