BoCom, China Eastern, PetroChina: China Equity Market Preview
The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 8.05, or 0.3 percent, to 2,759.58. The CSI 300 Index rose 0.1 percent to 3,064.10.
Bank of Communications Ltd. (601328 CH): China’s fifth- largest lender received regulatory approval to be a market maker for yuan forwards and swaps from Jan. 1. The stock lost 0.7 percent to 5.47 yuan.
China Eastern Airlines Corp. (600115 CH): The nation’s second-largest carrier said it has agreed to purchase 50 Airbus A320 Series aircraft from Airbus SAS. The stock rose 2.1 percent to 6.45 yuan.
CRBC International Co. (600263 CH): The construction company said its controlling shareholder China Communications Construction Co. will buy it out in a share swap. The shares, which will resume trading today, gained 4.1 percent to 11.96 yuan on Aug. 13, the last trading day before suspension.
Industrial and Commercial Bank of China Ltd. (601398 CH): China’s biggest bank said its custodial assets climbed by 800 billion yuan ($121.8 billion) from the end of the first half to 2.8 trillion yuan at the end of this month. The stock rose 3.2 percent to 4.24 yuan.
Nanjing Port Co. (002040 CH): The port operator said an agreement has been reached on its parent Nanjing Port Management Bureau’s asset restructuring. The stock, which rose 6.5 percent to 9.89 yuan on Dec. 29 before a one-day suspension, resumes trading today.
PetroChina Co. (601857 CH): The nation’s biggest oil company increased crude processing at the Dalian plant, its biggest refinery, by 11 percent this year to meet rising fuel demand, an official at the plant said. The stock gained 0.7 percent to 11.15 yuan.
Shanxi Xishan Coal & Electricity Power Co. (000983 CH): The coal producer said it will raise the price for four grades of refined coal by as much as 13 percent from Jan. 1 and the price increase will add about 1.3 billion yuan to 2011 sales. The stock dropped 0.3 percent to 25.15 yuan.
Sinoma International Engineering Co. (600970 CH): The construction engineering company said it signed a contract worth $135 million to build a cement factory in Saudi Arabia. The stock advanced 1.4 percent to 38.87 yuan.
Tsingtao Brewery Co. (600600 CH): China’s second-biggest brewery by volume said it will replace its Hong Kong auditors from PricewaterhouseCoopers with accountants from the firm’s China unit to cut costs. The stock added 0.3 percent to 33.79 yuan.
Yanzhou Coal Mining Co. (600188 CH): The listed unit of China’s fourth-biggest coal miner said its board agreed to inject 5.9 billion yuan into its Australian subsidiary, the official Xinhua News Agency said. The company plans to list its Australian subsidiary in Australia before 2012, Xinhua said. The stock rose 1.5 percent to 27.20 yuan.
Zijin Mining Group Co. (601899 CH): China’s largest gold producer said the company and two units have received notice that a court in China will hear claims from villagers affected by a dam collapse Sept. 21. The stock gained 1.3 percent to 7.93 yuan.
--Zhang Shidong, Zhang Dingmin. Editors: Eric Martin, Allen Wan
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