Chalco Rises to Premium as Growth Boosts Index: Overnight

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 4.31 points, or 0.2 percent, to 2,306.55. The CSI 300 Index (SHSZ300) gained 0.3 percent to 2,519.83.

Renewable energy companies: EGing Photovoltaic Technology Co. (600537) (600537 CH) rose 2.5 percent to 16.02 yuan, the most since Feb. 22. Shanghai Chaori Solar Energy Science & Technology Co. (002506 CH) added 3.3 percent to 12.71 yuan.

The Chinese government will give subsidies to cover investment and expenses for connecting electricity produced from renewable sources to power grids, the Ministry of Finance said in a statement on its website. The country will also give a 4,000 yuan ($634.4) subsidy annually for each kilowatt of power- generation capacity using renewable sources, the statement said.

Henan Shuanghui Investment & Development Co. (000895) (000895 CH), the publicly traded unit of China’s biggest food company, gained 3.2 percent to 71.13 yuan, the most since March 13. The company received approval for an asset restructuring from the China Securities Regulatory Commission, Shuanghui said in a statement.

Jiuguijiu Co. (000799) (000799 CH) climbed 3.6 percent to 32 yuan after the liquor maker said first-quarter profit probably jumped as much as 470 percent from a year ago.

--Zhang Shidong. Editor: Allen Wan

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.