Bloomberg News

China Stocks: Poly Real Estate, SAIC Motor, Ufida Software

March 12, 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 4.60 points, or 0.2 percent, to 2,434.86. The CSI 300 Index (SHSZ300) declined 0.4 percent to 2,654.40.

Automakers: SAIC Motor Corp. (600104) (600104 CH), China’s largest carmaker, declined 2 percent to 15.88 yuan. FAW Car Co. (000800 CH), which makes passenger cars in China with Volkswagen AG, lost 1.8 percent to 11.40 yuan.

Wholesale deliveries of passenger automobiles, including multipurpose and sport-utility vehicles, fell 4.4 percent to 2.37 million units in January and February, the biggest drop since 2005, the China Association of Automobile Manufacturers said on March 5. Sales were projected to drop 3 percent, based on the median estimate of five analysts surveyed by Bloomberg News.

Poly Real Estate Group Co. (600048) (600048 CH), China’s second- largest developer by market value, fell 3.9 percent to 11.23 yuan. The company said contracted sales for the first two months of the year declined 31 percent from a year earlier.

Ufida Software Co. (600588) (600588 CH), a software developer, jumped 6.8 percent to 19.42 yuan, the biggest gain since September 2010. Net income rose 62 percent from a year earlier in 2011, the company said in a March 9 statement.

--Zhang Shidong. Editor: Tim Farrand

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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