China Stocks: ICBC, Goldwind, China Shipping Containers, Taiya

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, lost 43.71, or 1.5 percent, to 2,813.47 at 10:00 a.m. The CSI 300 Index fell 1.3 percent to 3,123.01.

Banks: Industrial & Commercial Bank of China Ltd. (601398 CH), the nation’s biggest lender, dropped 1.8 percent to 4.26 yuan. China Construction Bank Corp. (601939 CH) slid 1.7 percent to 4.76 yuan.

The period around this weekend may be a “window” for China to raise rates, the China Securities Journal reported on its front page, citing analysts at domestic banks and brokerages.

The central bank may boost rates around the time set for the release of November’s inflation data, which has been scheduled for Dec. 13, the newspaper reported, citing Li Huiyong, an analyst at Shenyin & Wanguo Securities Co.

Xinjiang Goldwind Science & Technology Co. (002202 CH), China’s biggest listed maker of wind turbines, jumped 4.6 percent to 23.10 yuan, set for the largest gain since Oct. 26. The company won open tenders to supply wind-turbine generators to eight projects in Hebei and Xinjiang provinces for 4.77 billion yuan.

China Shipping Container Lines Co. (601866 CH) fell 1.3 percent to 3.96 yuan, set for the lowest close in a week. The company said 5.36 billion shares owned by its parent firm will become tradable on the Shanghai Stock Exchange on Dec. 13.

Chongqing Iron & Steel Co. (601005 CH) fell 0.8 percent to 3.82 yuan, set for the lowest close since July 15. The steelmaker said it plans to raise as much as 2 billion yuan by selling seven-year bonds to institutional and individual investors.

Taiya Shoes Co. (002517 CH) opened at 26 yuan on their first day of trading in Shenzhen, 30 percent higher than the initial public offer price of 20 yuan.

Jiangsu Kuangda Automobile Textile Group Co. (002516 CH) opened at 24.12 yuan on their first day of trading in Shenzhen, 20 percent higher than the initial public offer price of 20.10 yuan.

--Zhang Shidong, Irene Shen. Editor: Richard Frost

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at +86-21-6104-3040 or szhang5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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