Citic Securities, Swellfun, TCL, Suning: China Equity Preview

Shares of the following companies may have unusual moves in China trading. Stock symbols are in parentheses and prices are as of the previous close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, was little changed at 2,759.20. The CSI 300 Index (SHSZ300) rose 0.2 percent to 3,041.73.

Brokerages and insurers: Chinese insurers may be asked to trade stocks through brokerages instead of their own asset management companies, China Securities Journal reported today, citing an unidentified person familiar with the situation. The change would give brokers trading commissions and increase trading costs for insurers, according to the newspaper.

Citic Securities Co. (600030 CH), the nation’s largest brokerage, increased 0.2 percent to 13.14 yuan. Haitong Securities Co. (600837 CH) added 0.1 percent to 8.91 yuan. China Life Insurance Co. (601628 CH) lost 0.8 percent to 18.61 yuan.

Refiners: China may reduce fuel prices as early as August by about 200 yuan a metric ton, National Business Daily reported today, without saying where it got the information. A drop in international crude oil prices may ease “imported inflation” to China and decrease delivery costs for staple foods and vegetables, according to the Shanghai-based newspaper.

China Petroleum and Chemical Corp. (600028 CH), the nation’s largest refiner, declined 0.5 percent to 8.18 yuan. PetroChina Co. (601857 CH) retreated 0.6 percent to 10.76 yuan.

Hubei Mailyard Share Co. (600107 CH): China Construction Bank Corp. (939) (600939 CH), the nation’s second-biggest bank, plans to sell its entire 79.94 percent stake in Hubei Mailyard Group Co., parent of Hubei Mailyard Share, at auction, according to a statement to the Shanghai Stock Exchange. Hubei Mailyard gained 2.1 percent to 14.34 yuan.

Shenzhen Development Bank Co. (000001) (000001 CH): The bank said it got approval from the securities regulator for Ping An Insurance Group Co. to acquire 1.639 billion shares of the bank. The shares fell 0.3 percent to 17.04 yuan.

Sichuan Swellfun Co. (600779 CH): Diageo Plc will help Sichuan Swellfun sell more than 1,000 tons of liquor abroad over the next five to 10 years, the China Securities Journal reported today, citing the Chinese liquor maker. Swellfun exported 173 tons of liquor last year, the newspaper reported, citing Chairman Huang Jianyong. The stock jumped 5.9 percent to 22.47 yuan.

TCL Corp. (000100) (000100 CH): TCL Multimedia Technology Holdings Ltd. agreed to sell a 100 percent stake in its TCL King Electronics (Shenzhen) Co. subsidiary for 315.5 million yuan to Talent Bright International Ltd., a unit of Hong Kong-listed Fantasia Holdings Group Co. The shares added 1.7 percent to 3.06 yuan.

Suning Appliance Co. (002024 CH): A unit of Suning Appliance and a unit of Suning Electric Co. plan to buy a combined 257 million shares of Laox Co. through a private placement of the Japanese electronics retailer. Shares dropped 0.8 percent to 12.65 yuan.

To contact the editor responsible for this story: Darren Boey at

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