China Stocks: Risen Energy, Shandong Gold, Zhengzhou Coal
Shares of the following companies had unusual (SHSZ300) moves in China trading. Stock symbols are in parentheses as of the close.
The Shanghai Composite Index (SHCOMP) climbed 29.36 points, or 1.2 percent, to 2,412.39, its biggest gain since Nov. 14. The CSI 300 Index rose 1.4 percent to 2,609.09.
Coal-mining stocks: Zhengzhou Coal Mining Machinery Group Co. (601717) (601717 CH) jumped 6.4 percent to 26.18 yuan, the biggest gain since Nov. 19. 2010. Shandong Mining Machinery Group Co. (002526 CH) surged the 10 percent daily limit to 19.29 yuan. Linzhou Heavy Machinery Group Co. (002535 CH) climbed 5 percent to 14.70 yuan.
Coal-mining mechanization will need to reach more than 75 percent in China over the five-year period through 2015, China Business News reported today, citing the China National Coal Association. The five-year plan will lift the size of the demand for coal-mining machines to as much as 150 billion yuan ($23.5 billion), the newspaper reported, citing China Galaxy Securities Co.
China International Marine Containers Co. (000039) (000039 CH), the world’s largest maker of shipping containers, climbed 2.2 percent to 15.18 yuan. China International Marine is offering a parent guarantee for a $300 million loan being borrowed by its Hong Kong unit, according to a person familiar with the matter.
Shandong Gold Mining Co. (600547) (600547 CH), China’s third-largest bullion producer, rose 1.9 percent to 37.52 yuan. The company won approval from the National Development and Reform Commission to increase daily production capacity at its Sanshandao Gold Mine project, Shandong Gold said in a statement.
--Zhang Shidong. Editor: Richard Frost
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