China Stocks: Gansu Jiu Steel, Shenhua Energy, LiJiang Tourism
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, rose 4.9 points, or 0.2 percent, to 2,770.79. The CSI 300 Index (SHSZ300) gained 0.3 percent to 3,067.99.
China Shenhua Energy Co. (601088 CH), China’s largest coal miner, rose 2 percent to 29.98 yuan, heading for the biggest gain since July 8. Shenhua said its commercial coal production in June rose 40 percent from a year earlier to 24.8 million metric tons. Sales jumped 25 percent to 32.8 million tons, it said.
Gansu Jiu Steel Group Hongxing Iron & Steel Co. (600307 CH), a steelmaker, climbed 4.1 percent to 5.90 yuan, set for the biggest gain since May 9. Gansu Jiu Steel said yesterday first- half profit more than doubled from a year earlier. The company had its earnings per-share forecast for this year raised 12 percent by China International Capital Corp.
Hubei Chutian Expressway Co. (600035 CH), rose 3.2 percent to 4.9 yuan, set for the biggest gain since July 4. Hubei Transport Investment Co., which will be the biggest shareholder of Chutian Expressway, will inject its expressway assets into the company, Chutian Expressway said in a statement last night.
LiJiang YuLong Tourism Co. (002033 CH), a tourism company, added 3.9 percent to 23.72 yuan, set for the highest close since April 27. The company said first-half net income rose 367 percent from the same period a year ago to 30.2 million yuan ($4.68 million).
Xiamen Changelight Co.(300102 CH), a manufacturer of light- emitting diode chips, gained 4.8 percent to 34.07 yuan, the biggest gain since April 21. The company saying its first-half net income increased 46 percent from a year earlier, according to its statement yesterday.
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