U.S. Sells All Remaining Shares of General Motors
China Stocks: Jiangling Motors, Kweichow Moutai, Xinzhi Motor
The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, rose 30.96 points, or 1.3 percent, to 2,404.74. The benchmark retreated 1.4 percent this week, the most since the first week of January. The CSI 300 Index (SHSZ300) advanced 1.5 percent to 2,623.52 today.
Liquor makers Kweichow Moutai Co. (600519) (600519 CH), China’s biggest producer of baijiu liquor by market value, rose 4.4 percent to 207.59 yuan, the biggest gain since August. Wuliangye Yibin Co. (000858) (000858 CH), the second largest, added 3.1 percent to 37.35 yuan. Luzhou Laojiao Co. (000568) (000568 CH), a spirits producer in Sichuan province, jumped 4.8 percent to 45.47 yuan. Shenyin & Wanguo Securities Co. recommended buying consumer stocks.
Jiangling Motors Corp. (000550) (000550 CH), the commercial vehicle partner with Ford Motor Co. gained 2.6 percent to 22.52 yuan after reporting net income of 1.87 billion yuan last year.
Xinzhi Motor Co. (002664) (002664 CH) jumped 41 percent to 22.50 yuan on its first day of trading in Shenzhen.
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