Bloomberg News

China Stocks: China Shipping, Zhejiang Chint, Zijin Mining Group

February 03, 2012

Feb. 3 (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, rose 17.85 points, or 0.8 percent, to 2,330.41, the highest close since Dec. 7. The CSI 300 Index gained 0.8 percent to 2,506.09.

China Shipping Container Lines Co. (601866 CH), the country’s second-largest carrier of sea-cargo boxes, gained 1.9 percent to 2.75 yuan, the highest close since Dec. 9. China Shipping aims to raise rates for cargo hauled to Europe from Asia by $750 per 20-foot container, and $150 per 20-foot container to the Middle East from Asia, starting March 1, according to a company notice to investors obtained by Bloomberg News today. At least five phone calls to Ye Yumang, a spokesman for China Shipping, went unanswered.

Zhejiang Chint Electrics Co. (601877 CH), a Chinese maker of power transmission and solar power equipment, climbed 4.9 percent to 14.45 yuan, the most since Oct. 13. The company said yesterday that 2011 net income increased 28 percent to 816.7 million yuan ($129.6 million). That exceeded the 773 million yuan median estimate of five analysts surveyed by Bloomberg.

Zijin Mining Group Co. (601899 CH), China’s largest gold producer, advanced 0.9 percent to 4.50 yuan. Net income in 2011 rose 20 percent from a year earlier to 5.8 billion yuan, Zijin Mining said in a statement yesterday.

--Zhang Shidong. Editor: Chan Tien Hin

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net

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


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