Bloomberg News

China Stocks: Angang Steel, China CSSC Holdings, China Southern

April 16, 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 2.14 points, or 0.1 percent, to 2,357.03. The CSI 300 Index (SHSZ300) declined 0.3 percent to 2,574.04.

Angang Steel Co. (000898) (000898 CH), the nation’s fifth-largest steelmaker by market value, dropped 0.7 percent to 4.38 yuan. Angang may have posted a loss of 1.89 billion yuan ($299.4 million) in the first quarter, compared with a profit of 71 million yuan the same period last year, it said in a statement on April 13.

China CSSC Holdings Ltd. (600150) (600150 CH), a unit of the nation’s biggest shipbuilder, slid 3.8 percent to 32.71 yuan, the biggest decline since March 28. First-quarter profit may have fallen by about 65 percent from a year earlier, the company said in a statement.

China Southern Airlines Co. (600029) (600029 CH), Asia’s biggest air carrier by passenger numbers, fell 1.7 percent to 4.63 yuan. First-quarter profit probably dropped more than 50 percent from a year ago, the company said in a statement on April 13. The decline was caused by a “slowdown in the domestic economic growth and the substantial increase of jet fuel prices,” it said.

--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


Reviving Keynes
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus