China Stocks: Vanke, Northeast Electric, Xinmao, Zijin Mining
Developers: China Vanke Co. (000002 CH), the nation’s biggest developer, added 3.3 percent to 9.13 yuan. Poly Real Estate Group Co. (600048 CH) gained 4.3 percent to 15 yuan.
Property prices in Beijing rose 37.1 percent and prices in Shanghai gained 13.4 percent in 2010 from a year earlier, according to a survey by Soufun Holdings Ltd. published yesterday.
Electric equipment makers: Northeast Electric Development Co. (000585 CH) advanced 4.2 percent to 4.74 yuan. Henan Pinggao Electric Co. (600312 CH) rose 2.9 percent to 14.02 yuan. China XD Electric Co. (601179 CH) gained 2 percent to 8.27 yuan.
Northeast Electric, Henan Pinggao Electric and China XD Electric are among companies that won bids to supply China State Grid Corp.’s ultra high-voltage grid and transmission expansion project, the Shanghai Securities News reported, citing an unidentified person from State Grid.
Anhui Jianghuai Automobile Co. (600418 CH) added 2.5 percent to 10.96 yuan, set for its highest close since Dec. 23. The company’s 2010 net income may increase more than 240 percent, according to a statement to Shanghai’s stock exchange.
SAIC Motor Corp. (600104 CH), China’s biggest listed automaker, rose 3.2 percent to 15.50 yuan, set for its highest close in two weeks. The automaker sold 289,580 vehicles in December, a 1 percent increase from a year earlier, according to a statement to Shanghai’s stock exchange. The company sold 3.58 million vehicles in 2010, an increase of 31 percent from 2009.
Tianjin Xinmao Technology (000836 CH) fell 5.7 percent to 9.34 yuan, set for its lowest close since Nov. 22. Parent Tianjin Xinmao S&T Investment Corp. said it’s abandoning its pursuit of Draka Holding NV after the Dutch cable maker said it supports an 840 million-euro ($1.1 billion) takeover offer from Prysmian SpA.
Zijin Mining Group Co. (601899 CH) retreated 1.6 percent to 7.86 yuan. The gold miner said it will terminate an agreement to dispose of a stake in China Gold Development Group (H.K.) Ltd. and the termination has no “material adverse impact” on business and financials.
--Irene Shen, Xiao Yu. Editor: Reinie Booysen
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