Bloomberg News

China Stocks: Air China, Rizhao Port, Jiangsu Yanghe Brewery

October 15, 2010

The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, gained 47.62, or 1.7 percent, to 2,927.25. The CSI 300 Index (SHSZ300) rose 2 percent to 3,288.52.

Airlines: Air China Ltd. (601111) (601111 CH), the nation’s biggest carrier by market value, rose 4.6 percent to 14.50 yuan. China Southern Airlines Co. (600029) (600029 CH), the third-largest by market value, climbed 4.3 percent to 10.19 yuan.

Airlines advanced after the yuan gained to a record high, lowering the value of their dollar-denominated debt and boost income. The yuan touched touched 6.6463, according to the China Foreign Exchange Trade System, the strongest level since the central bank unified official and market exchange rates at the end of 1993.

Jiangsu Yanghe Brewery Joint-Stock Co. (002304) (002304 CH), a liquor maker, climbed 3.6 percent to 195.72 yuan, after saying it will increase some liquor prices by 5 percent on average from today.

Rizhao Port Co. (600017) (600017 CH), a port operator, rose 7.1 percent to 4.67 yuan, after saying its parent plans to transfer two wharfs to the listed unit.

--Chua Kong Ho in Shanghai. Editors: Richard Frost

To contact Bloomberg News staff for this story: Chua Kong Ho in Shanghai at kchua6@bloomberg.net

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net


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