China Stocks: Anhui Saunaking, Anhui Water, Shanghai Lujiazui
Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of 3 p.m. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 7.05 points, or 0.3 percent, to 2,701.73. The CSI 300 Index (SHSZ300) declined 0.3 percent to 2,972.08.
Water project-related stocks: Anhui Water Resources Development Co. (600502 CH), a water-project construction company, gained 1.9 percent to 16.19 yuan. Chongqing Three Gorges Water Conservancy & Electric Power Co. (600116 CH) advanced 1.6 percent to 16.34 yuan. The finance ministry said in a statement yesterday it will allocate more funds to the nation’s construction of water projects.
Anhui Saunaking Co. (300247 CH), a manufacturer of household sauna equipment, jumped 65 percent from its offer price to 26.35 yuan on the first day of trading in Shenzhen.
Shanghai Lujiazui Finance & Trade Zone Development Co. (600663 CH), a Shanghai-based developer, slid 1.5 percent to 13.42 yuan after saying first-half profit fell 12 percent from a year earlier to 892 million yuan ($138.5 million) from a year earlier.
Shenzhen Kingdom Sci-Tech Co. (600446 CH), a developer of financial security software, jumped 4.6 percent to 15.79 yuan, the highest close since Dec. 23. The company said it expects first-half net income may have risen about 500 percent from a year earlier.
Xinjiang Sailimu Modern Agriculture Co. (600540 CH) lost 1.9 percent to 12.08 yuan after the agricultural company said it may post a first-half loss.
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.