Shanghai Pudong Road & Bridge Construction Co. jumped by the maximum 10 percent limit on speculation it will benefit from construction on Walt Disney Co.’s theme park in the city.
Shanghai Pudong gained 10 percent to 16.36 yuan at 1:06 p.m. local time. Shanghai Construction Co. rose 8 percent to 14.68 yuan.
“The two stocks surged probably because of speculation that construction on Shanghai Disney park will start soon and the companies stand to win project contracts,” Luo Guo, an analyst at Orient Securities Co., said by phone.
Pudong Road said one of its units won two contracts valued at 1 billion yuan to build roads in Pudong district, according to an exchange filing on Sept. 29. The Oriental Morning Post reported on Sept. 30 the contracts are part of Shanghai Disney park construction projects. Theme park construction starts this month after the conclusion of the World Expo, the Shanghai Securities News reported on Oct. 18,
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