Deals
Wanxiang Surges on Agreement With A123: Shenzhen Mover
This article is for subscribers only.
Wanxiang Qianchao Co. surged the most in nine months in Shenzhen trading after its parent signed an agreement to potentially takeover A123 Systems Inc., a U.S. maker of rechargeable automobile batteries.
The stock rose by the 10 percent daily limit to 5.02 yuan, the biggest one-day percentage gain since Nov. 14. China’s benchmark Shanghai Composite Index gained 0.6 percent.