China Stocks: Anhui Water, Bright Dairy, Xiali, Yili Industry
Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 5.16 points, or 0.2 percent, to 2,468.25. The CSI 300 Index (SHSZ300) declined 0.5 percent to 2,695.31.
Water conservation-related stocks: Anhui Water Resources Development Co. (600502 CH) rose 3.5 percent to 14.39 yuan. China Gezhouba Group Co. (600068 CH) advanced 2.8 percent to 9.21 yuan.
Citic Securities Co. recommends shares related to environmental protection and water conservancy, according to a note to clients today. The brokerage said the Shanghai Composite may rise to as high as 2,700.
Bright Dairy & Food Co. (600597 CH), the country’s second- largest listed dairy-product maker, rose 1 percent to 8.93 yuan after saying third-quarter profit increased 22 percent from a year earlier.
Inner Mongolia Yili Industrial (600887) Group Co. (600887 CH), China’s biggest dairy producer by sales, jumped 2.6 percent to 20.97 yuan, its highest close since Aug. 15. Third-quarter net income almost tripled to 602 million yuan ($94.7 million) from a year earlier, the company said in a statement. That’s higher than the average estimate of 299.5 million yuan of two analysts in a Bloomberg survey.
Tianjin FAW Xiali Automobile Co. (000927 CH) fell 1.6 percent to 6.90 yuan. Net income for the first nine months dropped 62 percent from a year earlier, according to a company statement.
--Zhang Shidong. Editor: Richard Frost
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