The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the close of May 14.
The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, fell 13.88, or 0.5 percent, to 2,696.63 The CSI 300 Index (SHSZ300) declined 18.89, or 0.7 percent, to 2,868.02.
Property developers: Premier Wen Jiabao said the government will “decisively” contain the excessively fast increases in home prices in some cities and curb growth of industries with overcapacity, the official Xinhua News Agency reported May 15. China should keep the strength of macroeconomic controls “reasonable” and boost policy coordination, Xinhua also said, citing Wen.
Sales and prices of second-hand homes in Beijing fell in the first half of May, according to Shanghai Securities News.
Beiqi Foton Motor Co. (600166) : Beiqi Foton’s board approved a plan to build a 795 million yuan ($116 million) vehicle plant in Weifang, Shandong province, China’s biggest commercial-vehicle maker said in a statement to the Shanghai stock exchange on May 14. The plant is aimed at breaking a capacity bottleneck, the statement said. Beiqi Foton declined 2 percent to 17.93 yuan.
CSC Nanjing Tanker Corp. (600087) : The company’s officials bought 568,900 shares of the company last week for between 5.37 yuan to 5.5 yuan a share. Its stock slid 0.9 percent to 5.44 yuan.
Guangdong Electric Power Development Co. (000539) : The biggest operator of power plant in the southern Chinese province bordering Hong Kong said it will invest a further 303 million yuan in a shipping unit alongside other shareholders to boost the unit’s capital, the company said. Guangdong Electric added 0.6 percent to 6.35 yuan.
Industrial and Commercial Bank of China Ltd. (601398 CH): The world’s biggest lender by value hired Credit Suisse Founder Securities, China International Capital Corp., Citic Securities Co., and Guotai Junan Securities to help it raise 25 billion yuan in Shanghai, Reuters reported, citing people it didn’t identify. ICBC, as the bank is also known, retreated 1.1 percent to 4.53 yuan.
PetroChina Co. (601857) : The country’s largest oil producer signed an exploration and production agreement with Qatar Petroleum and Royal Dutch Shell Plc. PetroChina fell 0.6 percent to 11.15 yuan.
Xi’an Aircraft International Corp. (000768) : The aircraft manufacturer will buy a combined 2.3 billion yuan of aviation assets from its parent and three other affiliated companies by issuing 176.2 million new shares, it said in a statement to the Shenzhen stock exchange. The shares will be locked up for 36 months, it said. Xi’an Aircraft gained 1.8 percent to 12.10 yuan on May 13.
Xinjiang Goldwind Science & Technology Co. (002202) : The company said it won approval from the China Securities Regulatory Commission to sell as many as 455 million shares in Hong Kong, according to a filing to Shenzhen’s stock exchange. The company still needs approval from Hong Kong’s stock exchange, according to the statement. Its shares lost 0.2 percent to 21.89 yuan.
--Zhang Shidong, Shiyin Chen. With assistance from Chua Kong Ho. Editors: Allen wan, Tom Kohn
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