Bloomberg News

China Stocks: Citic Securities, China Eastern Airlines, Haitong

May 02, 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, gained 42.12 points, or 1.8 percent, to 2,438.44 at the close. The CSI 300 Index (SHSZ300) advanced 2.2 percent to 2,683.49. China’s markets were shut April 30 and May 1 for the holidays.

Brokerages: Citic Securities Co. (600030) (600030 CH) advanced 1.3 percent to 13.17 yuan and Haitong Securities Co. (6003837 CH) increased 2.3 percent to 10.12 yuan. China’s two stock exchanges will lower fees charged for trading yuan-denominated shares by 25 percent with effect from June 1, the nation’s securities regulator said in a statement on its website on April 30.

China Eastern Airlines Corp. (600115) (600115 CH) gained 3.2 percent to 4.17 yuan after the second-biggest domestic carrier said it would buy 20 Boeing planes.

SAIC Motor Corp. (600104) (600104 CH), the biggest Chinese automaker, climbed 3.7 percent to 15.95 yuan. The automaker reported a 7 percent gain in first-quarter net income to 5.61 billion yuan.

To contact Bloomberg News staff for this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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