Bloomberg News

China Stock Movers: Anhui Conch, China Vanke, Shenma Industry

October 26, 2011

Oct. 26 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of the close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 0.7 percent to 2,427.48. The CSI 300 Index added 1 percent to 2,651.65.

Developers: China Vanke Co. (000002 CH), China’s biggest developer, advanced 3.5 percent to 7.66 yuan. Poly Real Estate Group Co. (600048 CH) climbed 5.5 percent to 9.79 yuan.

Premier Wen Jiabao said yesterday the government will fine- tune its economic policies as needed, boosting speculation the central bank may halt interest-rate increases.

Anhui Conch Cement Co. (600585 CH) added 2.1 percent to 19.56 yuan, its highest close since Sept. 5. The company reported an 125 percent surge in third-quarter profit to 3.1 billion yuan.

Shaanxi Broadcast & TV Network Intermediary Co. (600831 CH) jumped by the 10 percent daily limit to 11.58 yuan, the highest close since Aug. 31. The company’s net income rose 87 percent to 32.5 million yuan in the third quarter, according to a statement to the Shanghai Stock Exchange yesterday.

Shenma Industry Co. (600810 CH) declined 2.9 percent to 12.11 yuan. The company posted a net loss of 12 million in the third quarter, according to a statement to the Shanghai Stock Exchange yesterday.

--Irene Shen. Editor: Matthew Oakley

To contact the Bloomberg News staff on 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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