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China Stocks: Huaneng, PetroChina, Guangzhou Pharmaceutical

Dec. 2 (Bloomberg) -- The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, climbed 0.7 percent to 2,843.61 at 3 p.m. close. The CSI 300 Index added 0.6 percent to 3,155.06.

Power companies: Huaneng Power International Inc. (600011 CH), the listed unit of China’s largest power producer, rose 3.3 percent to 6.18 yuan, its highest close since Nov. 11. Shanghai Electric Power Co. (600021 CH) jumped 5.3 percent to 4.21 yuan.

China ordered a freeze in 2011 contract prices for coal used by power stations to help electricity generators cover higher costs, Xinhua News Agency reported, citing Cao Changqing, head of pricing at the National Development and Reform Commission.

Oil producers: PetroChina Co. (601857 CH), the biggest Chinese oil company, advanced 1.2 percent to 11.10 yuan, the highest close since Nov. 25. China Petroleum and Chemical Corp. (600028 CH) added 0.9 percent to 8.15 yuan.

Oil traded near the highest in almost three weeks after greater-than-forecast growth in U.S. private employment bolstered optimism fuel demand will increase in the world’s biggest crude-consuming nation.

Guangzhou Pharmaceutical Co. (600332 CH) increased 2.1 percent to 17.68 yuan, the biggest gain since Nov. 25. The drug maker’s Hong Kong-trade stock was rated “buy” in new coverage at Citigroup Inc., which cited increasing sales volumes of traditional Chinese medicines, an expansion of its sales channel and a renegotiation of the Wang Lao Ji brand leasing agreement.

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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