Bloomberg News

China Stock Movers: Vanke, Camel, Sichuan Changhong, Pang Da

November 01, 2011

Nov. 1 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, added 1.77 points, or 0.1 percent, to 2,470.02. The CSI 300 Index gained 0.1 percent to 2,697.53. The Shanghai measure surged 4.6 percent in October, the best monthly rally in a year.

Developers: China Vanke Co. (000002 CH) lost 3 percent to 7.76 yuan. Poly Real Estate Group Co. (600048 CH) dropped 3.5 percent to 9.95 yuan.

Zhuhai city in the southern province of Guangdong won’t grant licenses for advance sale of homes if prices exceed 11,285 yuan per square meter, according to a statement on the city government’s website.

Camel Group Computer Ltd. (601311 CH) surged 9 percent to 23.66 yuan, its biggest advance since July 27. The company has received 2 million yuan in subsidies from the provincial government, Camel said in a statement yesterday.

Gemdale Corp. (600383 CH) declined 3.5 percent to 4.99 yuan, the biggest drop since Oct. 18. The property developer said third-quarter net income fell 99 percent to 1.54 million yuan from a year earlier.

Pang Da Automobile Trade Co. (601258 CH), China’s biggest listed autodealer, surged by the 10 percent daily limit to 10.79 yuan, the most since the stock started trading in April.

Third-quarter net income rose 92 percent on a year earlier, the company said in a statement. The stock was suspended yesterday.

Sichuan Changhong Electric Co. (600839 CH) rose 2.7 percent to 2.69 yuan, the most since Aug. 1. Company executives and other employees bought 25.8 million shares, or 0.56 percent of the company’s equity, from Oct. 28 to Oct. 31 and plan to buy as much as 5 percent over the next three years, according to a statement from the Chinese appliance maker to Shanghai’s stock exchange yesterday after the market closed.

--Irene Shen. Editor: Allen Wan

To contact the reporter 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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