The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, dropped 61.58, or 2.1 percent, to 2,907.93. The CSI 300 Index fell 2 percent to 3,108.41.
Developers: A halt on share sales by Chinese property developers may affect 45 companies with plans to raise as much as 110 billion yuan ($16 billion), the China Daily reported today, citing an unidentified source close to the China Securities Regulatory Commission.
The city of Beijing will issues policies today limiting how many homes residents of the Chinese capital are allowed to buy, the Shanghai Securities News reported today, citing an unidentified person.
China Vanke Co. (000002 CH), the nation’s biggest listed property developer, dropped 1.3 percent to 7.70 yuan. Poly Real Estate Group Co. (600048 CH), the second largest, fell 1.8 percent to 12.69 yuan.
Bank of Beijing Co. (601169 CH): The lender said first- quarter profit rose 39 percent to 2.09 billion yuan ($306.2 million). The shares fell 2.9 percent to 13.19 yuan.
Bank of China Ltd. (601988 CH): The nation’s third-largest lender by market value said first-quarter profit rose 41 percent to 26.23 billion yuan, aided by rising demand for loans and fee- based services. Profit beat the 25 billion yuan average estimate of six analysts surveyed by Bloomberg. The stock was unchanged at 4.04 yuan.
China Railway Construction Corp. (601186 CH): The builder of more than half the nation’s rail links since 1949 was raised to “outperform” from “neutral” by Credit Suisse Group AG analyst Ingrid Wei, who said the company may report “strong” 2010 earnings growth given an improving margin outlook and strong backlog. The stock lost 1.4 percent to 7.88 yuan.
GF Securities Co. (000776 CH): The brokerage said first- quarter net income fell 6.1 percent to 869.7 million yuan from a year earlier. The stock added 0.5 percent to 46.20 yuan.
International China International Travel Service Corp. (601888 CH): The company said first-quarter net income rose 82 percent on a year earlier to 109 million yuan. Profit for 2009 increased 41 percent. The shares dropped 1.8 percent to 18.83 yuan.
Haitong Securities Co. (600837 CH): China’s third-largest brokerage by value said first-quarter profit rose 1.55 percent to 1.01 billion yuan. Net income rose 38 percent to 4.5 billion yuan in 2009. The stock fell 3.9 percent to 13.10 yuan.
PetroChina Co. (601857 CH): The nation’s biggest oil company said first-quarter profit rose 71 percent to 32.5 billion yuan. That’s better than a median estimate of 30.9 billion yuan in a Bloomberg survey of six analysts. The stock fell 2.3 percent to 11.92 yuan.
Shenzhen Airport Co. (000089 CH): The stock was raised to “buy” from “outperform” at Bank of China by analyst Jianping Du. The stock dropped 2.1 percent to 6.91 yuan.
XCMG Construction Machinery Co. (000425 CH): The publicly traded unit of China’s biggest building equipment maker forecast first half net income to rise 36 percent on the same period a year earlier to 1.2 billion yuan. The stock was unchanged at 38.50 yuan.
ZTE Corp. (000063 CH): China’s second-biggest maker of phone equipment said first-quarter net income rose 40 percent to 109.9 million yuan. The stock gained 1.8 percent to 41.55 yuan.
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