Ping An, Citic Bank, Southern Airlines: China Equity Preview
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 17.54, or 0.7 percent, to 2,535.28. The CSI 300 Index fell 0.7 percent to 2,716.78.
Ping An Insurance (Group) Co. of China (601318 CH): Shenzhen Development Bank Co. plans to sell no more than 379.6 million new shares in a private offering to the life insurance unit of Ping An. The plan has received China Securities regulatory approval, Ping An said. The stock fell 1.5 percent to 46.81 yuan.
China Citic Bank Corp. (601998 CH): The bank and Banco Bilbao Vizcaya Argentaria SA agreed to set up an independent private banking business cooperation unit, according to a filing to the Hong Kong stock exchange today. The shares advanced 2.3 percent to 5.82 yuan.
China Southern Airlines Co. (600029 CH): Two more China Southern Airlines Co. executives have been detained for questioning, following the detention of seven on June 9, the China Business News reported, without saying where it obtained the information. The stock dropped 3.6 percent to 6.80 yuan.
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