The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 18.68, or 0.7 percent, to 2,875.86 at the 3 p.m. close. The CSI 300 Index added 1.1 percent to 3,200.34.
China Enterprise Co. (600675 CH), a Shanghai-based developer, jumped by the 10 percent daily limit to 7.90 yuan, its biggest gain since July 2008. The company said it agreed to buy a 40 percent stake in a real estate unit of its parent company for 830 million yuan ($124.9 million). The shares had been suspended from trading since May 17 pending the announcement.
Fujian Sunner Development Co. (002299 CH), a poultry processor, climbed 2.6 percent to 33.23 yuan, the highest since Nov. 15. The stock was raised to “buy” from “outperform” by Shenyin & Wanguo Securities Co. analysts Zhao Jinhou and Wang Qi, who said in a report the company may boost profit on plans to supply chicken meat to McDonald’s Corp. via a joint venture.
Jiangsu Kuangda Automobile Textile Group Co. (002516 CH), a manufacturer of vehicle interior fabrics, climbed 16 percent from the offer price to 23.25 yuan in debut in Shanghai.
Taiya Shoes Co. (002517 CH), a manufacturer of soles for shoes to companies including Li Ning Co., rose 20 percent from its offer price to 23.99 yuan on the first day of trading in Shenzhen.
Xinjiang Goldwind Science & Technology Co. (002202 CH), China’s biggest listed maker of wind turbines, jumped 8 percent to 23.86 yuan, the largest gain since July 20. The company won open tenders to supply wind-turbine generators to eight projects in Hebei and Xinjiang provinces for 4.77 billion yuan.