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Chalco, China Railway, Hisense, Wuliangye: China Equity Preview

March 3 (Bloomberg) -- Shares of the following companies may have unusual moves in China trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, dropped 5.11, or 0.2 percent, to 2,913.81. The CSI 300 Index fell 0.4 percent to 3,243.30.

Gold producers: Bullion rose to a record for a second day on demand for an investment haven amid surging commodity prices and turmoil in Libya. Gold futures for April delivery rose 0.5 percent to settle at $1,437.70 an ounce in New York yesterday.

Zijin Mining Group Co. (601899 CH), the largest gold producer, rose 1.7 percent to 8.40 yuan. Zhongjin Gold Corp. (600489 CH), the second biggest, gained 2.1 percent to 38.74 yuan.

Aluminum Corp. of China Ltd. (601600 CH): The listed unit of nation’s biggest maker of the lightweight metal said it plans to cut 2.25 billion yuan ($342 million) in costs this year. The shares fell 1.4 percent to 10.82 yuan.

China Railway Group Ltd. (601390 CH): The nation’s biggest construction company by total assets said it won 18.9 billion yuan of building contracts for projects including ring roads in Shenyang, railways in Jilin and roads in Hong Kong. The total value of the contracts is equal to about 5.5 percent of its 2009 sales, it said. The shares lost 2.3 percent to 4.59 yuan.

Hisense Electric Co. (600060 CH): The company will sell flat-panel televisions in Japan from March, the Nikkei newspaper said. Hisesne, China’s biggest manufacturer of flat-panel televisions, added 0.4 percent to 13.84 yuan.

Jiangling Motors Corp. (000550 CH): The Chinese commercial vehicle partner with Ford Motor Co. said it sold 12,585 vehicles in February, up 33 percent from a year earlier. The shares fell 2.5 percent to 29.17 yuan.

Metallurgical Corp. of China Ltd. (601618 CH): The construction company that helped build the “Bird’s Nest” Olympic stadium in Beijing said it has halted work on all construction projects in Libya, including a housing development and a cement plant. The contracts have an outstanding value of 5.1 billion yuan, equal to about 2 percent of the company’s total outstanding contracts at the end of last year. The stock fell 1 percent to 4.05 yuan.

Wuliangye Yibin Co. (000858 CH): China’s second-biggest maker of white liquor by market value said net income for 2010 rose 34 percent to 4.3 billion yuan on sales that surged 39 percent. The shares fell 1.1 percent to 32.78 yuan.

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

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

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