China Stocks: Chalco, Changan Auto, Huaxin Cement, Zhongjin
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, fell 4.76 points, or 0.2 percent, to 2,700.38. The CSI 300 Index (SHSZ300) declined 0.4 percent to 2,950.35.
Rare-earth producers: Aluminum Corp. of China Ltd. (601600 CH), the listed unit of nation’s biggest maker of the metal, jumped the 10 percent daily limit to 11.55 yuan. China Nonferrous Metal Industry’s Foreign Engineering & Construction Co. (000758 CH) rallied 5.5 percent to 38.38 yuan.
China may select three rare-earth companies to lead restructuring of the industry in the nation’s southern region, the Shanghai Securities News reported today. The producers may be announced at an industry meeting this week, it said.
Chongqing Changan Automobile Co. (000625 CH), the Chinese partner of Ford Motor Co. and Mazda Motor Corp., dropped 0.9 percent to 8.68 yuan after saying May sales slipped 4 percent from a year earlier to 123,773 vehicles.
Guangdong Dongyangguang Aluminum Co. (600673 CH), the aluminum product maker, gained 1.5 percent to 15.39 yuan after saying it would sell as much as 900 million yuan ($138.8 million) of five-year bonds on June 15.
Huaxin Cement Co. (600801 CH), the Chinese affiliate of Holcim Ltd., slumped 4 percent to 20.51 yuan, retreating for a fourth day. The cement maker said it will increase the number of shares to be issued in a private placement to as many as 190.7 million from 94.4 million.
Zhongjin Gold Co. (600489 CH), the country’s second-largest bullion producer by market value, fell 1.5 percent to 26.43 yuan. Zhongjin Gold said it adjusted a private placement plan to sell as many as 195 million shares at no less than 20.97 yuan each after its dividend distribution. The company previously planned to issue up to 150 million shares at a minimum of 27.35 yuan each.
--Zhang Shidong. Editor: Shiyin Chen
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