China Stocks: Anhui Conch, Chaori Solar, Dongfang Electric, SAIC
Stock Chart for Anhui Conch Cement Co Ltd (600585)
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 65.21 points, or 2.7 percent, to 2,512.96, its biggest advance since Aug. 25. The CSI 300 Index (SHSZ300) gained 3 percent to 2,771.01.
Nuclear power equipment-related stocks: Nanfang Ventilator Co. (300004 CH), a manufacturer of ventilators for nuclear power stations, added 3.2 percent to 30.80 yuan. Dongfang Electric Corp. (600875 CH), China’s second-biggest maker of power equipment, jumped 7.1 percent to 23.05 yuan, the biggest gain since Jan. 27. China First Heavy Industries Co. (601106 CH), a maker of equipment used in the mining and energy industries, surged the 10 percent daily limit to 3.98 yuan.
China may resume approvals for new nuclear power projects early next year, China Securities Journal reported, citing unidentified people.
Anhui Conch Cement Co. (600585 CH), the nation’s largest cement producer, rose 6.6 percent to 18.54 yuan, the biggest gain since June 14. Anhui Conch Building Materials Design Center, an affiliate, purchased 3.2 million shares.
Jiangsu Xiuqiang Glasswork Co. (300160 CH) jumped 7.7 percent to 30.52 yuan, its biggest gain since listing in January. Profit for the first nine months may jump as much as 81 percent from a year earlier to as much as 92 million yuan ($14.4 million), the company said in a statement yesterday. Third- quarter profit may rise between 31 percent and 41 percent, it said.
SAIC Motor Corp. (600104 CH), China’s biggest domestic automaker, gained 5.3 percent to 16.47 yuan. SAIC will develop electric cars with General Motors Co. to meet Beijing’s demands for more low-emission vehicles, the two companies said in a statement yesterday.
Sany Heavy Industry Co. (600031 CH), the biggest Chinese machinery maker, advanced 4.9 percent to 15.79 yuan. Sany said a wholly owned unit has signed a contract worth $14.95 million with Regency Material Trading for machinery sales.
Shanghai Chaori Solar Energy Science & Technology Co. (002506 CH), a Chinese maker of solar cells, climbed 5.1 percent to 18.88 yuan. The company said its board of directors approved a plan to invest 40.8 million euros ($56 million) to set up a venture with China Solar GmbH.
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