China Stocks: Anhui Conch, Datong Coal, Huaxin Cement, Shenhua
The Shanghai Composite Index (SHCOMP), which tracks the bigger of China’s stock exchanges, rose less than 0.1 percent to 2,185.90 today and declined 1.7 percent this week. The CSI 300 Index (SHSZ300) gained 0.1 percent to 2,450.63.
Cement makers: Anhui Conch Cement Co. (600585 CH), China’s biggest cement maker, added 1.2 percent to 14.87 yuan. Huaxin Cement Co. (600801) (600801 CH), the Chinese affiliate of Holcim Ltd., rose 1.5 percent to 11.84 yuan. Gansu Qilianshan Cement Group Co. (600720 CH) climbed 2.1 percent to 10.72 yuan.
China’s home sales rose the most this year last month, boosting speculation construction activities will accelerate. The value of homes sold climbed to 531.3 billion yuan ($83.3 billion) from 375.7 billion yuan in May, based on the difference between the National Statistics Bureau’s data for the first half of the year and the first five months.
Coal producers: China Shenhua Energy Co. (601088) (601088 CH), the nation’s largest coal producer, fell 0.8 percent to 22.63 yuan. China Coal Energy Co. (601898 CH), the second biggest, dropped 0.8 percent to 7.77 yuan. Datong Coal Industry Co. (601001) (601001 CH), the third largest, lost 1 percent to 10.69 yuan.
Bernstein lowered its China coal price forecast for this year by 4.8 percent to 700 yuan a metric ton and the projection for 2013 by 2.3 percent to 650 yuan. It’s the third time that Bernstein has cut its forecast for China prices in two months.
--Zhang Shidong. Editor: Allen Wan
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