China Stocks: China Vanke, CSR, Sichuan Road, Xinjiang Qingsong
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 21.57 points, or 0.8 percent, to 2,621.25. The CSI 300 Index (SHSZ300) dropped 0.6 percent to 2,874.90.
China developers: China Vanke Co. (000002 CH), the country’s biggest developer by market value, rose 1.6 percent to 8.18 yuan. Poly Real Estate Group Co. (600048 CH) gained 2.9 percent to 10.43 yuan.
New-home prices increased in May by more than 6 percent from a year earlier in 19 cities, compared with 21 cities in April, according to data posted on the National Bureau of Statistics website June 18.
BGRIMM Magnetic Materials & Technology Co. (600980 CH) fell by the 10 percent daily limit to 19.10 yuan, the most since Nov. 16. The company may report a loss after a subsidy suspended production because of pollution, according to a statement to the Shanghai Stock Exchange on June 17.
CSR Corp. (601766 CH), China’s largest listed trainmaker, climbed 1.2 percent to 6.67 yuan, halting a three-day slump. The company won a 600 million yuan ($93 million) order to supply equipment for a metro rail system in Changsha, Caixin online reported.
Sichuan Road & Bridge Co. (600039 CH) jumped by the 10 percent daily limit to 8.98 yuan. The company won 11 billion yuan in orders this year through June 16, an increase of 287 percent from the same period a year earlier, according to a statement to the Shanghai Stock Exchange on June 17.
Xinjiang Qingsong Building Materials & Chemicals Group Co. (600425 CH) lost 6 percent to 21 yuan, the biggest decline since Jan. 20. Xinjiang Qingsong plans to raise as much as 3.79 billion yuan selling up to 180 million shares in a private placement at no less than 20.84 yuan apiece, according to a statement to the Shanghai Stock Exchange today. The stock resumed trading after a June 13 suspension.
--Irene Shen, Liza Lin. Editor: Matthew Oakley
To contact Bloomberg News staff for this story: Irene Shen in Shanghai at +86-21-6104-3049 or Ishen4@bloomberg.net
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