Bloomberg News

China Stocks: Qinghai Gelatin, Tonghua Golden-Horse, Vanke

April 17, 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 22.04 points, or 0.9 percent, to 2,334.99. The CSI 300 Index (SHSZ300) declined 1.3 percent to 2,541.88.

Property stocks: China Vanke Co. (000002 CH), the nation’s biggest listed property developer, slid 2.3 percent to 8.37 yuan, the most since March 14. Poly Real Estate Group Co. (600048 CH), the second largest, lost 2.9 percent to 11.64 yuan. Gemdale Corp. (600383) (600383 CH), the fourth biggest, fell 3.7 percent to 6.08 yuan.

Shanghai won’t soften controls or change existing policies on the property market, the Xinhua News Agency reported yesterday, citing Mayor Han Zheng.

Tonghua Golden-Horse Pharmaceutical Industry Co. (000766) (000766 CH) dropped 3.4 percent to 4.81 yuan, the most since March 29. The State Food and Drug Administration has suspended sales of 13 drugs after media reported the capsules used to hold them contained excessive levels of chromium, according to a statement on its website. Tonghua Golden-Horse is among nine drugmakers whose products have been suspended for inspection, it said.

Qinghai Gelatin Co. (000606) (000606 CH), a capsule maker, jumped on speculation a government crackdown on contaminated medicines will benefit higher-quality suppliers. The stock surged by the 10 percent daily limit for a second day to 6.56 yuan.

--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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