Bloomberg News

China Stocks: China Dongfanghong, Pangang Steel, SAIC, ZTE

June 11, 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 24.41 points, or 1.1 percent, to 2,305.86. The CSI 300 Index (SHSZ300) gained 1.3 percent to 2,558.26.

Aerospace-related stocks: China Dongfanghong Spacesat Co. (600118 CH) jumped 6.6 percent to 13.52 yuan. Aerospace Communications Holdings Co. (600677 CH) surged 6.3 percent to 9.15 yuan. Beijing Aerospace Changfeng Co. (600855) (600855 CH) added 3.8 percent to 9.47 yuan.

China will send three astronauts into orbit later this month to perform the first manned docking with its Tiangong-1 space module, the official Xinhua News Agency reported over the weekend.

Automakers: SAIC Motor Co. (600104) (600104 CH), China’s largest carmaker, rose 2.3 percent to 14.93 yuan. Great Wall Motor Co. (601633) (601633 CH), China’s biggest pickup truck maker, advanced 4.3 percent to 17.28 yuan. FAW Car Co. (000800 CH), which makes passenger cars in China with Volkswagen AG, added 2.7 percent to 12.21 yuan.

Sales of China’s passenger-cars rose by 22.6 percent to 1.28 million units last month, Chen Shihua, statistics department head at the China Association of Automobile Manufacturers, said over the weekend at a briefing in Beijing. That beat the 1.2 million average of seven analyst estimates compiled by Bloomberg.

Pangang Group Steel Vanadium & Titanium Co. (000629) (000629 CH) slid 5.5 percent to 7.60 yuan after the steelmaker said it plans to sell 1.7 billion shares in a private placement. The stock resumed trading today after being suspended last week.

ZTE Corp. (000063) (000063 CH), China’s second-biggest phone- equipment maker, rose 2.8 percent to 14.77 yuan after the company said it will begin sales this year of smart phones and tablet computers running Microsoft’s Windows 8 operating system.

--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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