Bloomberg News

China Stock Movers: China CNR, Citic Securities, Zoomlion

October 12, 2011

Oct. 12 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of 3 p.m. Shanghai time.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 3 percent to 2,420. The CSI 300 Index gained 3.6 percent to 2,644.76.

Brokerages: Citic Securities Co. (600030 CH) climbed 6.2 percent to 11.91 yuan. Haitong Securities Co. (600837 CH) surged by 10 percent daily limit to 8.87 yuan.

The China Securities Regulatory Commission has approved a cross-border exchange-traded fund, Xinhua News Agency reported, citing an unidentified person.

China CNR Corp. (601299 CH) added 5.2 percent to 4.70 yuan, the biggest gain since Sept. 21. CSR Corp. (601766 CH) gained 5.2 percent to 4.67 yuan.

CSR and China CNR’s parent companies may each receive 2 billion yuan cash injections from the government provided their listed units complete share sales to raise money this year, 21st Century Business Herald reported today, citing an unidentified person familiar with the matter.

Changsha Zoomlion Heavy Industry Science and Technology Development Co. (000157 CH) jumped 4.2 percent to 9.89 yuan, the biggest gain since May 31. The company estimated its net income in the first nine months may have risen 92 percent to 6 billion yuan, according to a filing to the Shenzhen Stock Exchange yesterday.

Shanghai Electric Power Co. (600021 CH) added 4.3 percent to 4.40 yuan, the biggest gain since Sept. 21. The company expects net income in the first nine months of the year of as much as 200 million yuan, compared with 2 million yuan a year earlier, according to a statement to the stock exchange.

Sichuan Swellfun Co. (600779 CH) advanced 3 percent to 22.06 yuan, the biggest gain since Aug. 31. The liquor maker expects net income for the first nine months of the year to increase 50 percent to 100 percent from 117 million yuan a year earlier, according to a statement to the stock exchange.

--Irene Shen. Editor: Richard Frost

To contact the reporter on this story: Irene Shen in Shanghai at ishen4@bloomberg.net

To contact the editor responsible for this story: Shiyin Chen at schen37@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus