Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 3 p.m. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 4.92, or 0.2 percent, to 2,802.69. The CSI 300 Index (SHSZ300) gained 0.1 percent to 3,113.21.
Airlines: Air China Ltd. (601111) (601111 CH), the nation’s largest international carrier, gained 1.7 percent to 10.37 yuan. China Southern Airlines Co. (600029 CH), the nation’s biggest carrier by fleet size, added 2.5 percent to 8.48 yuan.
The State Council may release guidelines for the development of the country’s aviation industry this year, the Shanghai Securities News reported today, without saying where it got the information. Investment for the aviation industry may exceed 1.5 trillion yuan ($232 billion) over the next five years, according to the newspaper.
Automakers: SAIC Motor Corporation Ltd. (600104 CH), China’s biggest automaker, rose 1.9 percent to 18.65 yuan. FAW Car Co. (000800 CH), which makes passenger cars in China with Volkswagen AG, advanced 2.7 percent to 15.14 yuan.
China’s passenger-car sales climbed in June, reversing a decline in the previous month, as rising income boosted demand and Japanese automakers restored production following the March 11 earthquake. Deliveries of cars including multipurpose and sport-utility vehicles to dealerships rose 6.2 percent from a year earlier to 1.1 million units last month, the China Association of Automobile Manufacturers said on July 8.
Water-related companies: Anhui Water Resources Development Co. (600502 CH) gained 3.8 percent to 15.65 yuan. Gansu Dayu Water-saving Group Co. (300021 CH) jumped 8.2 percent to 12.56 yuan.
China will accelerate investment in water projects to alleviate shortages and improve the environment, the official Xinhua News Agency reported, citing a meeting chaired by President Hu Jintao.
Chang Jiang Shipping Group Phoenix Co. (000520 CH) fell 1.4 percent to 4.93 yuan after saying a first-half loss probably widened to 290 million yuan to 300 million yuan due to a decline in commodity-shipping rates.
Dahu Aquaculture Co. (600257 CH) jumped by the 10 percent daily maximum to 9.22 yuan. The company said it plans to sell as many as 50 million shares to buy turtle farming and aquatic-food processing assets worth about 360.5 million yuan from its parent, Dahu said in a statement after the market closed on July 8. The stock resumed trading today after being suspended last week. Shenyin & Wanguo Securities Co. rated the stock “outperform” in initial coverage.
Datang Telecom Technology Co. (600198 CH), a maker of telecommunications equipment, slid 2.8 percent to 14.15 yuan after saying it expects to post a first-half loss of 6 million yuan to 7 million as financial costs rise and gross profit margins on certain products narrow.
Shanghai Construction Co. (600170 CH) rose 1.4 percent to 15.60 yuan after the construction company said it won a tender to build a traffic junction in the city’s Pudong district with a 1.14 billion yuan bid.
Shanxi Xinghuacun Fen Wine Factory Co. (600809 CH) advanced 4.4 percent to 76.70 yuan after the liquor maker said first-half profit rose 97 percent from a year earlier to 658.6 million.
Zhongtong Bus & Holding Co. (000957 CH) added 1.4 percent to 8.73 yuan after the bus producer expects first-half net income to rise 50 percent to 60 percent from a year earlier to 23.4 million yuan to 24.9 million yuan because of higher sales and orders.
--Zhang Shidong. Editor: Richard Frost
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