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China Merchants Bank, Dongfeng: China Equity Preview

(Corrects to say Aluminum Corp. of China Ltd.’s parent is interested in acquisition in third paragraph.)

July 8 (Bloomberg) -- The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 11.69, or 0.5 percent, to 2,421.12. The CSI 300 Index rose 0.7 percent to 2,580.48.

Aluminum Corp. of China Ltd. (601600 CH): The company’s parent, Aluminum Corp. of China, also known as Chinalco, is said to have indicated an interest in buying a minority stake in the Mongolian Oyu Tolgoi project, according to a statement from Ivanhoe Mines Ltd. The shares rose 1 percent to 8.83 yuan in Shanghai.

China Merchants Bank Co. (600036 CH): The company said its first-half net income will increase more than 50 percent compared with a year earlier. The shares increased 0.2 percent to 13.15 yuan.

China Vanke Co. (000002 CH): The company was raised to “buy” from ”hold” at Deutsche Bank by equity analyst Tony Tsang. The 12-month target price is 9.12 yuan. The shares dropped 0.1 percent to 7.05 yuan.

Dongfeng Automobile Co. (600006 CH): The company said its first-half net income will more than triple, compared with the 126 million yuan ($18.6 million) it made a year earlier, after sales grew significantly in the first six months this year. The shares advanced 1.1 percent to 4.54 yuan.

Nanjing Iron & Steel Co. (600282 CH): The Chinese steelmaker part-owned by billionaire Guo Guangchang put off iron ore purchases and instead ran down inventories as prices of the steelmaking material declined. The shares declined 0.3 percent to 3.48 yuan.

Poly Real Estate Group Co. (600048 CH): The company said first-half sales rose 3.3 percent from a year earlier to 21.76 billion yuan. The shares fell 0.4 percent to 10.91 yuan.

Zhongshan Public Utilities Group Co. (000685 CH): It said its Chairman Tan Qingzhong and General Manager Zheng Xuling resigned for “personal reasons.” The shares added 2.2 percent to 15.81 yuan.

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net Yidi Zhao in Beijing at yzhao7@bloomberg.net

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net

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