Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 3 p.m. local time.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, added 0.1 point to 2,743.57 at the 3 p.m. close. The CSI 300 Index (SHSZ300) rose 0.1 percent to 3,004.17.
Anhui Conch Cement Co. (600585 CH), China’s maker of the building material, gained 2.5 percent to 36.66 yuan, the highest in more than two weeks.
Cement prices in China’s eastern region are expected to remain at a “high” level in the third quarter and Anhui Conch’s multiple of 10 times for estimated profit in 2011 is attractive, Wang Siyu, an analyst at Shenyin & Wanguo Securities Co., wrote in a report today.
Anhui Gujing Distillery Co. (000596 CH), a liquor maker, climbed 1.6 percent to 73.55 yuan after saying it has lowered its private placement share price.
China Southern Airlines Co. (600029 CH), the nation’s biggest carrier by fleet size, gained 2.8 percent to 7.70 yuan, its biggest advance since May 6. The carrier said it will buy six Boeing Co. 777 freighters as the nation’s export growth spurs air-cargo traffic.
Shenzhen Zhongjin Lingnan Nonfemet Co. (000060 CH), China’s third-largest zinc producer, advanced 3.9 percent to 13.09 yuan, its biggest gain since Feb. 14. The company said a latest exploration showed that its project in Canada has 200,900 tons of lithium reserves.
Yantai Wanhua Polyurethanes Co. (600309 CH), China’s biggest maker of a chemical used in insulation foam, jumped 2.7 percent to 17.15 yuan, the highest since May 19. Yantai Wanhua said it plans to invest 2.38 billion yuan to double annual production of methylene diphenyl diisocyanate to 1.2 million metric tons at its Ningbo factory.
Zhejiang Huace Film & TV Co. (300133 CH) jumped 4.2 percent to 37.10 yuan, the biggest gain since Feb. 10. The TV program producer said it plans to pay 140 million yuan for a 55 percent stake in online video supplier, Xian JY Entertainment Co.
--Zhang Shidong. Editor: Allen Wan
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