Bloomberg News

China Stocks: Gansu Jiu Steel, Jiangsu Hengrui, Yunnan Baoyao

March 01, 2012

Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the close.

The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, fell 2.37 points, or 0.1 percent, to 2,426.12. The CSI 300 Index (SHSZ300) declined less than 0.1 percent to 2,633.34.

Health-care stocks: Jiangsu Hengrui Medicine Co. (600276 CH) dropped 2.7 percent to 26.06 yuan. Yunnan Baiyao Group Co. (000538) (000538 CH), a manufacturer of traditional Chinese medicines, lost 1.9 percent to 51.11 yuan.

China may announce plans to adjust prices for drugs in the health insurance list this week, China Business News reported today, without saying where it got the information. Drugs for cancer, immunity regulating and digestive system and blood products will be the main targets for price cuts, the report said.

Gansu Jiu Steel Group Hongxing Iron & Steel Co. (600307) (600307 CH) slid 3 percent to 4.51 yuan after the company announced a plans to raise 8.5 billion yuan ($1.35 billion) by selling new shares in a private placement to help finance the purchase of a stainless steel plant from its parent company.

--Zhang Shidong. Editor: Allen Wan

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


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus