Bloomberg News

China Stocks: China International Travel, Harbin Pharmaceutical

February 17, 2012

Feb. 17 (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 0.32 point, or less than 0.1 percent, to 2,357.18. The CSI 300 Index gained less than 0.1 percent to 2,537.09.

Tourism stocks: China International Travel Corp. (601888 CH), the country’s largest tourism company by market value, rose 1.6 percent to 26.71 yuan. Emei Shan Tourism Co. (000888 CH) jumped 3.3 percent to 18.20 yuan.

China will encourage local government financial support for the tourism industry, the listing of industry companies and support the merger of listed firms, the People’s Bank of China said in a statement yesterday. It will also help improve payment and settlement services for the industry, it said.

Harbin Pharmaceutical Group Co. (600664 CH), China’s biggest drugmaker by sales, fell 4 percent to 7.86 yuan, its biggest loss since Nov. 30. The company said it may have to pay $45.5 million in refunds and reported “irregularities” at two of its units.

--Zhang Shidong. Editor: Darren Boey

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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