Feb. 5 (Bloomberg) -- The following companies may have unusual price changes today in Asia trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.
Gold producers: Gold may average $1,000 an ounce this year as investment demand for safe haven assets increases following fears about the financial crisis, according to a report by UBS AG, which increased its forecast by 43 percent from its previous target of $700. Newcrest Mining Ltd. (NCM AU), Australia’s largest gold mining company, fell 70 cents, or 2.3 percent, to A$29.30. Sino Gold Mining Ltd. (SGX AU), owner of China’s second- largest gold mine, fell 1 cent, or 0.2 percent, to A$4.80.
Asustek Computer Inc. (2357 TT): The Taiwanese maker of the low-cost Eee PC and Garmin Ltd. said they will combine their handset businesses to compete with Nokia Oyj and Apple Inc. Asustek fell 10 cents, or 0.3 percent, to NT$30.5.
Esprit Holdings Ltd. (330 HK): Hong Kong’s biggest listed clothing retailer said first-half profit fell for the first time in more than a decade, dropping 13 percent to HK$2.85 billion ($368 million) in the six months ended December, as Europe, its biggest market, slid into a recession. The stock gained 60 cents, or 1.6 percent, to HK$38.55.
Globe Telecom Inc. (GLO PM): The second-largest Philippine phone company, expects growth in profit and revenue to resume this year as the company cuts costs and taxes decline, President Gerardo Ablaza said. The stock fell 20 pesos, or 2.4 percent, to 830 pesos.
NHN Corp. (035420 KS): The operator of South Korea’s most- used Internet search engine posted a 31 percent increase in 2008 profit to 365.7 billion won on higher revenue from online advertising and games. The stock fell 1,000 won, or 0.7 percent, to 138,000 won.
PT Adaro Energy (ADRO IJ): Indonesia’s second-largest coal miner forecast earnings before interest, taxes, depreciation and amortization will more than double this year to as much as $1 billion. Output is forecast to rise as much as 17 percent to 45 million tons this year, the company said in a statement. Adaro advanced 40 rupiah, or, 5.5 percent, to 770.
Titan Chemicals Corp. (TTNP MK): The Malaysian maker of petrochemicals said it will seek shareholders approval for the renewal of its authority to buy back as much as 10 percent of the company’s outstanding capital. Titan climbed 1.5 sen, or 2.4 percent, to 64.5 sen.
To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net
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