Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the 3 p.m. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 15.97, or 0.6 percent, to 2,878.60. The CSI 300 Index added 0.5 percent to 3,190.94.
Beijing Zhongke Sanhuan High-Tech Co. (000970 CH), a manufacturer of permanent magnetic products, added 2.1 percent to 29.08 yuan after saying it plans to raise as much as 600 million yuan ($91.2 million) by selling as many as 27 million shares in a private placement.
Huayi Brothers Media Corp. (300027 CH) gained 3.4 percent to 28.23 yuan, the biggest gain in two months. Net income jumped 81 percent from a year earlier to 152.6 million yuan, the company said in a statement.
Ningxia Saima Industry Co. (600449 CH), a cement maker, jumped 4.1 percent to 37.51 yuan after saying net income rose 26 percent from a year earlier to 561.8 million yuan in 2010.
Shanghai Pharmaceuticals Holding Co. (601607 CH), a drug retailer, climbed 2.4 percent to 21.03 yuan. The company said it will invest 180 million yuan in the next six years to jointly conduct research and development of four drugs with Shanghai Fudan-Zhangjiang Bio-pharmaceutical Co. (8231 HK)
Suning Appliance Co. (002024 CH), China’s biggest home appliance retailer by market value, advanced 6.3 percent to 13.68 yuan. Suning plans to open 370 new stores this year, bringing the total number of stores to 1,700, China Business News reported yesterday, citing Vice President Sun Weimin.
Tibet Mineral Development Co. (000762 CH) rose 1.1 percent to 32.59 yuan after saying it has received approval from China Securities Regulatory Commission to issue new shares in a private placement.
Zhejiang Crystal-Optech Co. (002273 CH) gained 2.4 percent to 45.14 yuan after saying its net income jumped 63 percent from a year earlier to 93.8 million yuan in 2010.
--Zhang Shidong. Editor: Richard Frost
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