Zijin Mining, China Construction Bank, SAIC Motor: China Equity Preview
Stock Chart for China Construction Bank Corp (939)
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.
Technology stocks: China’s government will provide subsidies for some technology exports, including patents and software and technology services, the Ministry of Finance said in a statement yesterday.
UFIDA Software Co. (600588 CH) dropped 1.6 percent to 22.87 yuan. China National Software & Service Co. (600536 CH) slid 7.8 percent to 22.21 yuan.
China Construction Bank Corp. (601939 CH): The country’s second-largest bank said it won shareholder approval for a plan to raise as much as 75 billion yuan ($11 billion) in a rights offer. The stock dropped 1.2 percent to 4.93 yuan on June 23 before trading was suspended.
China United Network Communications Ltd. (600050 CH): Its Hong Kong-listed unit China Unicom (Hong Kong) Ltd. said it has started talks with Apple Inc. over sales of the latest version of the smartphone and the iPad tablet computer. China United, which controls the nation’s second-largest cell phone operator, added 0.8 percent to 5.21 yuan.
Hangzhou Silan Microelectronics Co. (600460 CH): The company said first-half net income will rise to more than 90 million yuan, a more than fivefold increase from a year earlier. The shares fell 1.6 percent to 16.86 yuan.
Henan Hengxing Science & Technology Co. (002132 CH): The company said it will raise 253 million yuan in a private sale of 25.3 million shares at 10 yuan each. The shares dropped 1.1 percent to 11.07 yuan.
SAIC Motor Corp. (600104 CH): China’s largest domestic automaker plans to raise no more than 10 billion yuan in a private share placement, it said to the Shanghai Stock Exchange. SAIC will use the funds to develop its own brands of vehicles and expand its technology center. The stock dropped 3.8 percent to 12.05 yuan on June 18 when it last traded.
Zijin Mining Group Co. (601899 CH): China’s largest gold producer terminated an A$545 million ($472.1 million) agreement to buy Indophil Resources NL over “uncertainties” of the deal, the Chinese company said in a statement to the Shanghai Stock Exchange. The stock fell 0.7 percent to 6.83 yuan.
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