Sinochem, Northeast Securities, Chalco, Citic: China Stock-Market 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, gained 14.45, or 0.6 percent, to 2,648.12. The CSI 300 Index rose 0.5 percent to 2,877.98.
Aluminum Corp. of China Ltd. (601600 CH): The listed unit of the nation’s biggest maker of the lightweight metal and also called Chalco agreed to pay $1.35 billion for a stake in Rio Tinto Group’s Simandou iron ore project in Guinea, according to a statement from the two companies. The shares rose 0.4 percent to 10.21 yuan on July 27 before trading was suspended.
China CAMC Engineering Co. (002051 CH): The company will resume trading today after the China Securities Regulatory Commission approved its private placement plan, the company said in a statement to the Shenzhen Stock Exchange. The shares rose 4.1 percent to 37.16 yuan on July 26 before trading was suspended.
China State Construction Engineering Corp. (601668 CH): The company estimated first-half profit rose more than 50 percent from a year earlier, according to a statement to the Shanghai stock exchange. The shares rose 1.3 percent to 3.85 yuan.
Citic Securities Co. (600030 CH): The brokerage named the intended buyers of its 53 percent stake in China Securities Co. Citic said that Beijing State-Owned Capital Management Center may buy 45 percent and Century Golden Resources Investment Group Co. 8 percent, according to a statement to Shanghai’s stock exchange. The shares climbed 1.5 percent to 12.96 yuan.
Northeast Securities Co. (000686 CH): The brokerage’s net income for the first six months of the year fell 77 percent from a year earlier to 110.4 million yuan ($16.3 million), according to a statement to the Shenzhen Stock Exchange. The shares rose 4.8 percent to 24.4 yuan.
Sinochem International Corp. (600500 CH): The company said first-half profit rose 77 percent from a year earlier to 533 million yuan, according to a statement to Shanghai’s stock exchange. The shares rose 0.8 percent to 9.98 yuan.
--Zhang Shidong, Judy Chen. Editor: Glenn J. Kalinoski
To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at +86-21-6104-7014 or szhang5@bloomberg.net
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