China Stocks: Baotou Rare-Earth, Jishi Media, Xiamen Tungsten

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 5.97 points, or 0.3 percent, to 2,409.55. The CSI 300 Index (SHSZ300) gained 0.3 percent to 2,606.26.

Rare-earth producers: Inner Mongolia Baotou Steel Rare- Earth Hi-Tech Co. (600111) (600111 CH), China’s biggest producer of rare earth, rose 3.3 percent to 49.76 yuan. Xiamen Tungsten Co. (600549 CH), which also produces rare earth, added 1 percent to 37.10 yuan.

China aims to increase the annual capacity of rare-earth magnetic material by 20,000 tons by 2015, according to a statement posted on the Ministry of Industry and Information Technology’s website yesterday.

Jishi Media Co. (601929) (601929 CH), an operator of cable television networks, jumped 87 percent from its offer price to 13.12 yuan on the first day of trading in Shanghai.

--Zhang Shidong. Editor: Chan Tien Hin

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.