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China Stocks: Huaneng Power, Datang Power, Harbin High-tech

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Dec. 1 (Bloomberg) -- The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, gained 3.27, or 0.1 percent, to 2,823.45 at 3 p.m. local time close. The CSI 300 Index was little changed at 3,136.02.

Healthcare companies: A gauge tracking health-care companies on the CSI 300 extended declines, falling 1.7 percent, the most among the gauge’s 10 industry groups. Harbin Pharmaceutical Group Co. (600664 CH) slid 1.8 percent to 24.47 yuan. Shanghai Fosun Pharmaceutical (Group) Co. (600196 CH) lost 2.2 percent to 14.20 yuan.

China is slashing the price of drugs made by Roche Holdings AG and Bristol-Myers Squibb Co. by about a third, part of government efforts to rein in health-care costs and cool the fastest inflation in two years.

Huaneng Power International Inc. (600011 CH), China’s biggest electricity producer, added 2.8 percent to 5.98 yuan, snapping a three-day drop. The company said it won approval for a non-public issue of 1.5 billion A shares.

Datang International Power Generation Co. (601991 CH) rose 3 percent, the biggest gain since Oct. 15, to 6.80 yuan. The company said it got regulatory approval for a private placement in a statement to stock exchange today.

Harbin High-tech Group Co. (600095 CH) fell by the 10 percent daily limit to 12.92 yuan, the lowest close since Oct. 14. The company will sell a stake in a solar power company for 45.5 million yuan ($7 million), it said in a statement to Shanghai Stock Exchange today.

To contact Bloomberg News staff for this story: Irene Shen in Shanghai at ishen4@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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