China Stocks: Air China, China Everbright, Shanghai Chengtou
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 26.6, or 0.9 percent, to 2,865.45 at the 3 p.m. close. The CSI 300 Index added 44.06, or 1.4 percent, to 3,147.96.
Air China Ltd. (601111 CH), the country’s largest international carrier, gained 2.6 percent to 13.21 yuan. Its air-cargo venture with Cathay Pacific Airways Ltd. may begin flights within weeks, according to Cathay Pacific Chairman Christopher Pratt yesterday.
China Everbright Bank Co. (601818 CH), a lender, dropped 3.4 percent to 3.92 yuan, the lowest close since Oct. 13, after 1.55 billion of its shares became tradable today.
Hunan Dakang Pasture Farming Co. (002505 CH), a pig breeder, gained 21 percent to 28.99 yuan on its first day of trading in Shenzhen. The company sold 26 million shares at 24 yuan each in its initial public offering.
Jiangsu Dongguang Micro-electronics Co. (002504 CH), a manufacturer of semiconductors and integrated circuits, rose 83 percent to 29.24 yuan on its first day of trading in Shenzhen. The company sold 27 million shares at 16 yuan in its initial public offering.
Shanghai Chengtou Holding Co. (600649 CH), which provides water in the city, gained 1.6 percent to 8.51 yuan, after the Shanghai Morning Post reported that the municipality would raise residential water prices from Nov. 20.
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