Bloomberg News

China Stocks: Citic Securities, Datang International, Kweichow

June 05, 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, rose 3.37 points, or 0.2 percent, to 2,311.92. The CSI 300 Index (SHSZ300) declined less than 0.1 percent to 2,558.84.

Defensive stocks: North China Pharmaceutical Co. (600812) (600812 CH) advanced 4.5 percent to 7.40 yuan, the highest close since March 13. Datang International Power Generation Co. (601991) (601991 CH) climbed 4 percent to 5.24 yuan, the most since Feb. 16. Kweichow Moutai Co. (600519) (600519 CH), the nation’s biggest maker of baijiu liquor, rose 1.8 percent to 240.80, a record close.

Investors bought shares of companies whose earnings may be more resilient in an economic slowdown.

China Vanke Co. (200002) (000002 CH), the country’s largest developer, advanced 0.8 percent to 9.11 yuan, the first gain in four days, after May sales jumped 44 percent from the previous month.

Citic Securities Co. (600030) (600030 CH) retreated 1.6 percent to 13.13 yuan. Haitong Securities Co. (600837) (600837 CH) slid 1.3 percent to 10.06 yuan. The 21st Century Herald said regulators may suspend a plan to allow foreign companies to list in Shanghai.

Qingdao Haier Co. (600690) (600690 CH) advanced 1.6 percent to 11.83 yuan. The finance ministry said China will offer subsidies for the purchase of energy-saving refrigerators and washing machines.

To contact the reporter on this story: Sharon Chen in Singapore at schen462@bloomberg.net

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


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