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China Stocks: Chalco, Construction Bank, Guoyuan, Wuhan Steel

Oct. 29 (Bloomberg) -- The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, dropped 13.74, or 0.5 percent, to 2,978.84 at the 3 p.m. close. The CSI 300 Index fell 0.5 percent to 3,379.98.

Aluminum Corp. of China Ltd. (601600 CH) fell 2.1 percent to 12.87 yuan. The listed unit of nation’s biggest maker of the lightweight metal, also called Chalco, said it hasn’t re-applied for a sale of yuan-denominated shares, denying a report by Shanghai Securities News.

China CSSC Holdings (600150 CH) climbed 1 percent to 65.62 yuan. The unit of China’s biggest shipbuilder said its third-quarter net income rose 1.3 percent to 774.9 million yuan.

China Construction Bank Corp. (601939 CH) fell 2.1 percent to 5.04 yuan, a two-week low. The country’s second-largest bank may raise less than the maximum 75 billion yuan ($11.2 billion) it originally planned to collect in Asia’s biggest rights offer, four people with knowledge of the matter said.

Guoyuan Securities Co. (000728 CH) declined 2.8 percent to 14.47 yuan, a one-week low. The brokerage said third-quarter net income fell 22 percent from a year ago to 252 million yuan.

Shanghai Electric Power Co. (600021 CH) dropped 0.9 percent to 4.23 yuan. The power generator reported a net loss of 16.2 million yuan in the third quarter.

Wuhan Iron & Steel Co. (600005 CH) declined 0.8 percent to 5.07 yuan. The steelmaker said third-quarter net income fell by half from a year ago to 276.3 million yuan.

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at

To contact the editor responsible for this story: Linus Chua at

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