Bloomberg News

China Equity Movers: China Coal, Merchants Bank, Shenhua Energy

April 09, 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 20.78 points, or 0.9 percent, to 2,285.78. The CSI 300 Index (SHSZ300) declined 1 percent to 2,495.15.

Coal producers: China Shenhua Energy Co. (601088) (601088 CH), the nation’s largest coal producer, fell 1.9 percent to 25.52 yuan. China Coal Energy Co. (601898 CH), the second biggest, sank 2 percent to 8.90 yuan.

China’s coal demand may continue slowing in the second quarter as the economy decelerates, the Xinhua News Agency reported yesterday, citing Wang Xianzheng, chairman of the China Coal Industry Association.

China Merchants Bank Co. (600036) (600036 CH), the nation’s sixth largest lender by market value, lost 1.1 percent to 11.68 yuan, after the securities regulator approved its plan to raise 35 billion yuan ($5.5 billion) in a rights offer.

--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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