China Stocks: China Coal Energy, China Shenhua, Tangshan Jidong
China Shenhua Energy Co. (601088) (601088 CH), the nation’s largest coal producer, gained 3.3 percent to 22.82 yuan, the most since Jan. 17. China Coal Energy Co. (601898) (601898 CH), the second-largest, advanced 4.7 percent to 7.83 yuan, also the most since Jan. 17. Investors are speculating coal prices have bottomed and won’t fall any further, Han Zhenguo, analyst at Huachuang Securities Co., said in a phone interview in Beijing.
Cosco Shipping Co. (600428) (600428 CH), a unit of China’s biggest shipping company, lost 1 percent to 4.07 yuan after saying first-half profit probably dropped 99.5 percent from a year earlier.
Tangshan Jidong Cement Co. (000401) (000401 CH) gained 2.8 percent to 13.24 yuan, the highest close since July 4. Its parent bought 698,300 shares in the company yesterday, raising its stake to 37.33 percent, the cement maker said. The parent also plans to increase its stake in the company by as much as 2 percent in the next six months.
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