Bloomberg News

China Stocks: Chongqing Brewery, Chongqing Changan, Sinopec

March 15, 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 17.46 points, or 0.7 percent, to 2,373.77. The CSI 300 Index (SHSZ300) declined 0.8 percent to 2,585.55.

Chongqing-based companies: Chongqing Brewery Co. (600132) (600132 CH) tumbled 8.2 percent to 33.56 yuan, its biggest decline since Jan. 16. Chongqing Changan Automobile Co. (000625 CH), the Chinese partner of Ford Motor Co. and Mazda Motor Corp., fell 3 percent to 4.54 yuan. Chongqing Fuling Electric Power Industrial Co. (600452) (600452 CH) dropped 2.7 percent to 9 yuan.

Bo Xilai was replaced by Zhang Dejiang, a North Korean- educated member of China’s ruling Politburo, as the head of the west city of Chongqing, the official Xinhua News Agency reported today. The replacement comes after Bo’s former police chief, Wang Lijun, went to the U.S. consulate last month in Chengdu, prompting speculation that he was seeking asylum.

Oil refiners: China Petroleum & Chemical Corp. (600028) (600028 CH), the nation’s biggest oil refiner, rose 0.7 percent to 7.56 yuan. PetroChina Co. (601857 CH), the second largest, added 0.5 percent to 10.23 yuan.

The nation may raise gasoline and diesel prices today or tomorrow by about 500 yuan ($79) a ton, C1 Energy says on its website yesterday.

--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


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