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. local-time close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 1.3 percent to 2,626.77, the steepest increase since July 13. The CSI 300 Index (SHSZ300) gained 1.5 percent to 2,917.88.
Cement producers: Anhui Conch Cement Co. (600585 CH), the nation’s largest cement producer, added 2.5 percent to 25.49 yuan. Tangshan Jidong Cement Co. (000401 CH) advanced 4.9 percent to 22.24 yuan, the biggest jump since June 14.
China started building about 7.2 million units of low- income housing in the first seven months of the year, Xinhua News Agency reported, citing the Ministry of Housing and Urban- Rural Development. The construction accelerated “significantly” in July, the report said.
Refineries: China Petroleum & Chemical Corp. (600028) (600028 CH), the nation’s largest refiner, increased 1 percent to 7.23 yuan, the biggest rise since July 4. PetroChina Co. (601857 CH) advanced 0.7 percent to 10.04 yuan.
China may cut prices for gasoline and diesel as early as Aug. 25, China National Radio said, citing commodity researcher C1 Energy. Prices for gasoline and diesel may be reduced by 250 yuan ($39) per ton to 300 yuan per ton, the radio said.
China Pacific Insurance (Group) Co. (601601 CH) added 3.2 percent to 21.12 yuan, the highest level since July 22. The company’s insurance premium was 97.4 billion yuan in the first seven months of the year, according to a statement to the Shanghai Stock Exchange.
Shanghai Pharmaceuticals Holding Co. (601607 CH), China’s second-largest drug distributor, advanced 1.2 percent to 15.63 yuan, the highest since Aug. 4. The company’s first-half net income jumped 66 percent to 1.3 billion yuan, according to a statement to the Shanghai Stock Exchange.
Yunnan Aluminium Co. (000807 CH) climbed 1 percent to 8.98 yuan, the highest close since Aug. 5. The smelting company’s first-half net income rose 178 percent from a year earlier to 31.4 million yuan, according to a statement to the Shenzhen Stock Exchange.
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