Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 11:30 a.m. local-time break.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 6.37, or 0.2 percent, to 2,915.50. The CSI 300 Index (SHSZ300) gained 0.3 percent to 3,218.16.
Alternative energy-related stocks fell as Japan’s nuclear crisis eased. Sinovel Wind Group Co. (601558 CH), the country’s biggest maker of wind turbines, lost 1.4 percent to 73.98 yuan. Xinjiang Goldwind Science & Technology Co. (002202 CH), the second biggest, slid 3 percent to 21.27 yuan. Risen Energy Co. (300118 CH), a manufacturer of solar cells, lost 1.8 percent to 74.39 yuan.
Japanese Prime Minister Naoto Kan said yesterday there’s “light at the end of the tunnel” in the nation’s battle to avert a nuclear meltdown at a crippled nuclear power plant. The Nikkei 225 Stock Average jumped more than 3 percent today.
Industrial Commercial Bank of China Ltd. (601988) (601398 CH), the nation’s largest lender, gained 0.7 percent to 4.37 yuan. Bank of China Ltd. (3988) (601988 CH), the fourth-largest by assets, advanced 0.6 percent to 3.26 yuan. ICBC and Bank of China were Barclays’ top picks among H-share lenders.
China Minsheng Banking Corp. (600016 CH), the nation’s first privately owned bank, rose 1.4 percent to 5.23 yuan. The lender sold 6 billion yuan of 10-year subordinated bonds at a coupon rate of 5.5 percent and 4 billion yuan of 15-year subordinated bonds at 5.7 percent, according to a statement on the Chinese government bond clearing house website yesterday.
Dalian Dayang Trands Share Co. (600233 CH) surged by the daily maximum of 10 percent to 17.39 yuan. The company’s net income rose 24 percent to 138.2 million yuan ($21.1 million) in 2010 from a year earlier, according to a statement to the Shanghai Stock Exchange yesterday.
Zhejiang Guyuelongshan (600059) Shaoxing Wine Co. (600059 CH), a yellow wine maker, added 1.1 percent to 12.35 yuan after saying it raised prices for its products by about 7 percent on March 19.
--Zhang Shidong. Editor: Allen Wan
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