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 Sept. 21 unless otherwise stated.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 2.84, or 0.1 percent, to 2,591.55. The CSI 300 Index rose 0.3 percent to 2,857.48. China’s markets were closed from Sept. 22 to Sept. 24 for the Mid-Autumn Festival.
Developers: China’s housing ministry and banking regulator are jointly probing the way commercial lenders implement second- home policy curbs in major cities, the China Business Journal reported over the week-end, citing an unidentified official at the housing ministry. China may start a trial of property tax in some cities in 2011, the Economic Observer newspaper reported on Sept. 25, citing unidentified officials at the Beijing tax bureau.
China Vanke Co. (000002 CH), the nation’s biggest listed property developer, rose 1 percent to 8.15 yuan. Poly Real Estate Group Co. (600048 CH), the second largest, slipped 0.2 percent to 10.78 yuan.
Bright Dairy & Food Co. (600597 CH): The country’s second- largest listed dairy-product maker said it won regulatory approval from New Zealand to buy a 51 percent stake in Synlait Milk Ltd. Separately, Bright Dairy is in discussions about a possible purchase of the U.K.’s United Biscuits from Blackstone Group and PAI Partners, according to company spokesman Chen Chunshan. Its shares rose 0.5 percent to 9.65 yuan.
COFCO Property (Group) Co. (000031 CH): The property unit of the country’s biggest grain trader said it sold 9.04 million China Merchants Bank Co. (600036 CH) shares through the Shanghai Stock Exchange to replenish its working capital. The sale will generate around 80 million yuan ($12 million) income for COFCO. COFCO shares gained 0.2 percent to 6.82 yuan on Sept. 21 before trading was suspended. Merchants Bank fell 0.2 percent to 12.87 yuan.
Datang Telecom Technology Co. (600198 CH): The telecommunication equipment manufacturer said its board approved its plan to buy a 16 percent stake in Uniscope for 63.8 million yuan. Its shares fell 1.8 percent to 16.7 yuan.
Industrial & Commercial Bank of China Ltd. (601398 CH): The nation’s biggest listed lender said shareholders approved a plan to raise as much as 45 billion yuan from a rights offer to replenish capital. The stock added 0.3 percent to 3.97 yuan on Sept. 20 before trading was suspended.
Xingjiang Goldwind Science & Technology Co. (002202 CH): The country’s biggest listed maker of wind turbines said it plans to raise as much as HK$7.1 billion ($915 million) selling shares for the first time in Hong Kong. The stock added 0.9 percent to 19.79 yuan.
Zhejiang Jinggong Science & Technology Co. (002006 CH): The machinery manufacturer said it plans to raise as much as 582 million yuan selling as many as 46.5 million shares in a private placement. The stock rose 10 percent, the most allowed in one trading day, to 16.24 yuan on Sep. 14 before trading was suspended.
Zhejiang Guyuelongshan Shaoxing Wine Co. (600059 CH): The yellow wine manufacturer said it will raise the ex-factory price for its wine from the years 2000 to 2009 by 11 percent to 17 percent. The stock closed down 1.8 percent to 12.99 yuan.
Zijin Mining Group Co. (601899 CH): China’s largest gold producer said the damage caused to the Xinyi Mine from Typhoon Fanapi would cost 19 million yuan. Its stock was down 0.6 percent at 6.26 yuan.
To contact the editor responsible for this story: Linus Chua at email@example.com