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China Railway, Shenhua, Huaneng Power, Beiqi Foton: 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 close on Oct. 19.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 46.63, or 1.6 percent, to 3,001.85. The CSI 300 Index rose 2.1 percent to 3,375.67.

Financial stocks: China unexpectedly raised its benchmark lending and deposit rates for the first time since 2007. The one-year lending rate will increase to 5.56 percent from 5.31 percent, effective today, the People’s Bank of China said yesterday. The deposit rate will increase to 2.5 percent from 2.25 percent.

Industrial & Commercial Bank of China Ltd. (601398 CH), the nation’s biggest listed lender, fell 0.9 percent to 4.63 yuan. China Construction Bank Corp. (601939 CH), the second largest, added 1 percent to 5.29 yuan. China Vanke Co. (000002 CH), the nation’s biggest listed property developer, slid 1.4 percent to 9.50 yuan.

Coal producers: Benchmark coal prices at China’s Qinhuangdao port rose 1 percent to between 730 yuan ($110) and 745 yuan a metric ton as of yesterday compared with a week earlier, according to data from the China Coal Transport and Distribution Association.

China Shenhua Energy Co. (601088 CH), a unit of the nation’s largest coal producer, rose 3.7 percent to 29.14 yuan. Yanzhou Coal Mining Co., the listed unit of China’s fourth- biggest coal miner, (600188 CH) jumped 7.8 percent to 28.52 yuan.

Rail-related stocks: China has started development of a “super-speed” rail technology that can propel trains at an average speed of more than 500 kilometers per hour, Xinhua News Agency reported today, citing He Huawu, an official at the Ministry of Railways.

China Railway Group Ltd. (601390 CH), the nation’s largest construction company by total assets, slid 1.7 percent to 5.16 yuan. China Railway Erju Co. (600528 CH) added 0.4 percent to 10.42 yuan.

Beiqi Foton Motor Co. (600166 CH): China’s biggest commercial-vehicle maker said nine-month net income may have risen more than 125 percent from 698 million yuan in the same period last year. The stock added 4.5 percent to 24.04 yuan.

China Erzhong Group Deyang Heavy Industries Co. (601268 CH): The equipment supplier to power producers said may raise capital, without saying how much it planned to raise, how it would raise the money or for what purpose. The shares jumped the 10 percent daily limit to 15.13 yuan.

Daqin Railway Co. (601006 CH): The operator of China’s biggest coal transport network said it plans to raise as much as 16.5 billion yuan selling as many as 2 billion additional shares. The stock

Huaneng Power International Inc. (600011 CH): The unit of China’s biggest electricity producer posted a 48 percent decline in third-quarter profit as fuel costs rose. The stock slid 0.4 percent to 6.79 yuan.

Northeast Securities Co. (000686 CH): The brokerage said third-quarter profit rose 40 percent from a year earlier to 219.2 million yuan. The shares gained 1.4 percent to 28.75 yuan.

Shanghai Electric Power Co. (600021 CH): The supplier of a third of the electricity in China’s richest city said shareholder China Power International Development Ltd. sold 25.7 million shares, a 1.2 percent stake, in Shanghai Electric June 8 and Oct. 18. The shares lost 0.5 percent to 4.45 yuan.

Tsingtao Brewery Co. (600600 CH): China’s second-biggest brewery by volume said third-quarter profit rose 13 percent from a year earlier to 694.8 million yuan. The shares gained 0.8 percent to 36.55 yuan.

Yunnan Tin Co. (000960 CH): The company’s third-quarter net income fell 28 percent from a year earlier to 92.8 million yuan. The stock gained 5.6 percent to 36.75 yuan.

--Zhang Shidong, Chua Kong Ho and Zhang Dingmin. Editor: Glenn J. Kalinoski

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at +86-21-6104-3040 or szhang5@bloomberg.net; Chua Kong Ho in Shanghai at +86-21-6104-3048 or kchua6@bloomberg.net; Zhang Dingmin in Beijing at +86-10-6649-7576 or dzhang14@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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