China Stocks: EGing Photovoltaic, Poly Real Estate, Vanke

Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the close.

The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, rose 2.39 points, or 0.1 percent, to 2,351.98. The CSI 300 Index gained 0.2 percent to 2,533.62.

Property stocks: China Vanke Co. (000002) (000002 CH), the nation’s biggest listed property developer, rose 2 percent to 7.85 yuan. Poly Real Estate Group Co. (600048 CH), the second largest, advanced 3.3 percent to 10.91 yuan.

Wuhu, a mid-sized city in Anhui province, will give subsidies of 50 yuan ($7.90) a square meter (10.76 square feet) for the purchase of homes between 70 square meters and 90 square meters, and 150 yuan a square meter for new homes smaller than 70 square meters, the local government said in a statement on its website yesterday. The city will also waive a deed tax for house transactions, according to the statement.

Solar stocks: EGing Photovoltaic Technology Co. (600537) (600537 CH) advanced 4.6 percent to 21.71 yuan, its highest close since Dec. 8. Zhejiang Sunflower Light Energy Science & Technology Co. (300111 CH) added 0.9 percent to 11.20 yuan.

Solar stocks rose after Deutsche Bank AG said major Asian solar manufacturers are running at full capacity.

“Demand pick-up in multiple markets appears to be the primary driver of recent strength in fundamentals,” Vishal Shah, an analyst at Deutsche Bank, wrote in a report yesterday. “Tier-one companies in China, Taiwan and Korea have rising orders and are running at 100 percent of utilization.”

--Zhang Shidong. Editor: Richard Frost

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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