China Stocks Movers: CSR, China Dongfanghong, Zhuhai Port

Shares of the following companies are having unusual moves in China trading. Stock symbols are in parentheses and prices are as of 11:18 a.m. local time.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 3.50 points, or 0.1 percent, to 2,642.99. The CSI 300 Index (SHSZ300) dropped 0.1 percent to 2,907.08.

CSR Corp. (601766 CH), China’s biggest maker of rail cars, lost 1.4 percent to 6.56 yuan. The company said it will temporarily withhold 20 percent of final dividends to be paid to individual shareholders of its Hong Kong-traded shares for possible tax payments under Chinese regulations, according to a statement to the Hong Kong stock exchange.

China Dongfanghong Spacesat Co. (600118 CH) jumped 4.8 percent to 20.89 yuan, the most since Feb. 17.

China Aerospace Science & Technology Group Co. and its wholly-owned investment subsidiary raised their combined stake in Dongfanghong by 0.41 percent yesterday, according to a statement to the Shanghai Stock Exchange. The shareholders will continue to boost their stake in the company over the next 12 months, the statement said.

Zhuhai Port Co. (000507 CH) jumped 7.4 percent to 11.77 yuan, set for the biggest increase since Nov. 8. The port operator said it expects first-half net income to rise by as much as 154 percent to about 215 million yuan, according to a statement to the Shenzhen Stock Exchange.

--Irene Shen, Zheng Lifei. Editor: Richard Frost

To contact Bloomberg News staff for this story: Irene Shen in Shanghai at +86-21-6104-3049 or Ishen4@bloomberg.net

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

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