Bloomberg News

China Stocks: China National Chemical, Hainan Air, Hubei Yihua

June 27, 2011

June 27 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of the 3 p.m. close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, added 12.02 points, or 0.4 percent, to 2,758.23. The CSI 300 Index rose 0.3 percent to 3,036.49.

China National Chemical Engineering Co. (601117 CH) gained 2.5 percent to a record 8.58 yuan. The company won a 6.83 billion yuan ($1.05 billion) engineering contract from an energy and chemical company in Shaanxi province, according to a Shanghai Stock Exchange filing.

Hainan Airlines Co. (600221 CH) climbed 1.1 percent to 7.20 yuan, the highest close since June 8. The airline said it plans to sell as much as 2 billion yuan of three-year bonds overseas through a wholly owned Hong Kong unit, according to a filing to the Shanghai Stock Exchange.

Hengyi Petrochemical Co. (000703 CH) jumped 6.8 percent to 46.17 yuan, its biggest gain since Feb. 26. The company plans to raise as much as 3 billion yuan in a private placement of as many as 65 million shares to help finance production of purified terephthalic acid, according to a statement to the Shenzhen stock exchange. The stock had been suspended from trading since June 21.

Hubei Yihua Chemical Industry Co. (000422 CH) rose 1.9 percent to 20.81 yuan, its highest close since May 3. The fertilizer producer will invest 7.5 billion yuan in a chemical project in the Xinjiang region, according to a filing to the Shenzhen Stock Exchange.

Meihua Monosodium Glutamate Group Co. (600873 CH) surged by the 10 percent daily limit to 13.17 yuan after saying it will inject 300 million yuan into a subsidiary. The capital injection will help the company improve its asset structure and competitive edge, according to a statement to the Shanghai exchange.

--Irene Shen, Winnie Zhu. Editor: Shiyin Chen

To contact Bloomberg News staff for this story: Irene Shen in Shanghai at ishen4@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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