China Stocks: Huawei Toys, Nanning Sugar, PetroChina, Souyute
Energy producers: PetroChina Co. (601857 CH), the nation’s largest oil producer, fell 1.9 percent to 11.35 yuan, its lowest close since Oct. 29. Yanzhou Coal Mining Co. (600188 CH), a coal producer, slid 1.9 percent to 25.78 yuan, a fourth day of loss.
Oil fell 3 percent yesterday to $82.34 a barrel, capping the biggest three-day loss since August, on speculation China’s steps to cool inflation will reduce fuel demand.
Beijing Vantone Real Estate Co. (600246 CH), a property developer, gained 1.1 percent to 6.33 yuan, after saying it signed an agreement for up to 3 billion yuan ($452 million) of credit from China Merchants Bank Co.
Dongguan Souyute Fashion Co. (002503 CH), a Chinese clothing producer, gained 14 percent to 85.50 yuan on its first day of trading. The company sold 20 million shares at 75 yuan each in its initial public offering.
Guangdong Huawei Toys Craft Co. (002502 CH), a maker of toys, climbed 27 percent to 36.97 yuan on its first day of trading. The company sold 22 million shares at 29 yuan each in its initial public offering.
Jilin Liyuan Aluminum Co. (002501 CH), a maker of aluminum parts used in cars and trains, rose 27 percent to 44.60 yuan on its first day of trading. The company sold 23.6 million shares at 35 yuan each in its initial public offering.
Nanning Sugar Industry Co. (000911 CH), a sugar producer, fell 4.4 percent to 21.35 yuan, capping a six-day losing streak. Sugar for September shipment fell 2.3 percent to 6,376 yuan a metric ton on the Zhengzhou Commodity Exchange.
--Chua Kong Ho. Editors: Shiyin Chen, Richard Frost
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