Issue: August 22, 2012 (Archive)

Monday, May 20, 2013

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Dividend cut after big fall in CNOOC profit
China's top offshore oil producer CNOOC Ltd (0883) reported first-half net profit falling by almost a fifth - twice as much as the market expected.

Bond hopes inspire rally
Global stocks rallied to 3-month highs yesterday and the euro hit a seven-week peak against the US dollar on hopes the European Central Bank will soon start buying Spanish and Italian bonds to contain the debt crisis.

Losses fail to halt CTS expansion
China Travel Service (0308) plans to invest in tourism-related projects in five mainland cities even though the domestic tourism market remained lackluster during the first half of the year.

Focus on Kunlun as euro doldrums stay
Not many trading days remain for this month. Stocks will continue to move laterally as "incoherent and disruptive communications have disturbed the markets," Italian industry minister Corrado Passera pointed out recently.

Mainland moves help Towngas power on
Expansion into the mainland by Hong Kong and China Gas (0003) - a company familiar to most consumers as Towngas - is now paying off.

Pace slows for three retailers
Three mainland sports gear retailers booked lackluster interim earnings, hurt by a slowdown in demand for their product lines and higher distribution costs.

Bottom line lift fails to tempt developer on sales goal
Guangzhou-based Yuexiu Property (0123) has no plans to boost its contracted sales target despite booking a 16-percent year on year growth in first- half core profit to 903 million yuan (HK$1.1 billion).

Headwinds blast Everbright earnings
Financial services firm China Everbright Ltd (0165) booked a net profit of HK$767 million in the first six months, down 51 percent from a year back, due to headwinds in the financial market. But it still proposed an interim dividend of 11 HK cents.

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