Bloomberg News

Chinese Stocks in the U.S.: China Southern, Melco Crown, Unicom

October 19, 2011

Oct. 19 (Bloomberg) -- The Bloomberg China-US 55 Index of the most-traded Chinese equities in the U.S. declined 2 percent. The Shanghai Composite Index retreated 0.3 percent to 2,377.51.

The following companies were among the most active Chinese shares in New York trading. Stock symbols are in parentheses and prices are as of the close of trading.

China Southern Airlines Co. (ZNH US), Asia’s largest carrier by passenger numbers, tumbled 7 percent, the most this month, to $26.20. The company may join China Eastern Airlines Corp. in scrapping orders for Boeing Co. 787 planes after delivery of its first plane was delayed until July, according to Chief Financial Officer Xu Jiebo. China Southern will seek compensation from Boeing for the late delivery, Xu said yesterday by phone.

China Unicom (Hong Kong)Ltd. (CHU US), the nation’s second- largest mobile-phone carrier, gained 0.6 percent in its third day of increases to $19.92. The company added 3.6 million users in September, the most since at least March, to total 338.2 million, it said in a statement today to the Hong Kong Stock Exchange. China Unicom added a net 2.9 million subscribers for its mobile service and 779,000 for broadband service.

Melco Crown Entertainment Ltd. (MPEL US), the Macau casino operator, sank 7.9 percent, the most in two weeks, to $9.93. Macau will keep the number of its gambling tables unchanged through 2013, Francis Tam, the city’s secretary for economy and finance, said in a statement on the government website. The number of tables will stay within 5,500 through 2013 and will annually increase 3 percent in the 10 years after 2013, Tam said.

Oil futures fell 2.5 percent to $86.11 a barrel in New York after a split emerged between France and Germany on proposals to increase the European bailout fund, and the Federal Reserve described the pace of U.S. economic growth as “modest.”

PetroChina Co. (PTR US) the nation’s biggest oil producer, slid 1.6 percent to $123.67, the most in a week. The company has started building an underground natural-gas storage facility in the Xinjiang region to guard against supply disruptions, according to a statement on the website of PetroChina’s parent.

China Petroleum and Chemical Corp. (SNP US), the country’s biggest refiner, known as Sinopec, lost 2.4 percent to $92.16.

Cnooc Ltd. (CEO US), China’s largest offshore energy producer, slumped 2.6 percent to $169.25, the lowest in eight trading sessions.

--Editors: Glenn J. Kalinoski, Richard Richtmyer

To contact the reporter on this story: Belinda Cao in New York at lcao4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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