China Stocks: Gansu Jiu Steel, Jiangsu Hengrui, Yunnan Baoyao
Stock Chart for Jiangsu Hengrui Medicine Co Ltd (600276)
The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, fell 2.37 points, or 0.1 percent, to 2,426.12. The CSI 300 Index (SHSZ300) declined less than 0.1 percent to 2,633.34.
Health-care stocks: Jiangsu Hengrui Medicine Co. (600276 CH) dropped 2.7 percent to 26.06 yuan. Yunnan Baiyao Group Co. (000538) (000538 CH), a manufacturer of traditional Chinese medicines, lost 1.9 percent to 51.11 yuan.
China may announce plans to adjust prices for drugs in the health insurance list this week, China Business News reported today, without saying where it got the information. Drugs for cancer, immunity regulating and digestive system and blood products will be the main targets for price cuts, the report said.
Gansu Jiu Steel Group Hongxing Iron & Steel Co. (600307) (600307 CH) slid 3 percent to 4.51 yuan after the company announced a plans to raise 8.5 billion yuan ($1.35 billion) by selling new shares in a private placement to help finance the purchase of a stainless steel plant from its parent company.
--Zhang Shidong. Editor: Allen Wan
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