Breaking News

Tweet TWEET

China Stocks: China Southern, FAW Car, Shimao, Yili Industrial

Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of the 3 p.m. close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 3.83, or 0.1 percent to 2,937.63. The CSI 300 Index (SHSZ300) advanced 0.5 percent to 3,262.92.

Airlines: China Southern Airlines Co. (600029 CH), the nation’s largest carrier, lost 1.2 percent to 8.43 yuan. The airline canceled flights between Tokyo and China on March 12. China Eastern Airlines Corp. (600115 CH), the second biggest, slipped 1.1 percent to 6.41 yuan. Air China Ltd. (601111) (601111 CH), the nation’s largest international carrier, slid 1.4 percent to 11.54 yuan.

An 8.9-magnitude earthquake, the world’s strongest in more than six years, struck the coast of Japan, causing a tsunami that inundated towns north of Tokyo on March 11.

Automakers: FAW Car Co. (000800 CH), which makes passenger cars in China with Volkswagen AG, advanced 1.7 percent to 17.75 yuan. Anhui Jianghuai Automobile Co. (600418 CH), a unit of China’s biggest light-truck exporter, gained 1.2 percent to 13.42 yuan.

Toyota Motor Corp. is suspending production at all 12 of its factories, as well as those of auto-body makers, in the nation today, said Shiori Hashimoto, a company spokeswoman.

Inner Mongolian Baotou Steel Union Co. (600010 CH), a steelmaker, jumped the 10 percent daily limit to 5.27 yuan as it resumed trading today after three weeks of suspension. The company said it will raise as much as 6 billion yuan ($913.2 million) in a private placement.

Inner Mongolia Yili Industrial (600887) Group Co. (600887 CH), China’s biggest dairy producer by sales, climbed 3.5 percent to 38.10 yuan, the highest close in two weeks. The company said it will invest 457 million yuan in a plant in Guangdong province.

Shanghai New Huangpu Real Estate Co. (600638 CH), a property developer, rose 3 percent to 10 yuan after saying net income for 2010 rose 33 percent from a year earlier to 213 million yuan.

Shanghai Pharmaceuticals Holding Co. (601607 CH), a drug retailer, added 3.1 percent to 21.83 yuan, the highest close this year. The securities regulator has taken the company’s application for a share sale in Hong Kong and will review the plan, Shanghai Pharmaceuticals said in a statement. The company said last month it plans to raise at least 8 billion yuan from the Hong Kong stock sale.

Shanghai Shimao Co. (600823 CH), the property developer controlled by billionaire Xu Rongmao, rose 1.8 percent to 14.48 yuan after saying profit for 2010 jumped more than fourfold from a year earlier.

--Irene Shen, Zhang Shidong. Editor: Shiyin Chen

To contact the Bloomberg News staff for this story: Irene Shen at ishen4@bloomberg.net; Zhang Shidong at szhang5@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.