March 8 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 3 p.m. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 3.73, or 0.1 percent, to 2,999.94. The CSI 300 Index added 0.1 percent to 3,337.46.
Cement Producers: Anhui Conch Cement Co. (600585 CH) dropped 1.9 percent to 36.89 yuan and Huaxin Cement Co. (600801 CH), the Chinese affiliate of Holcim Ltd., slid 2.9 percent to 43.59 yuan.
Goldman Sachs recommended investors “take profit” on cement producers after the “very strong rally,” according to a report by the brokerage. Anhui Conch jumped 27 percent this year through yesterday on speculation the cement maker will benefit from a government plan to build more low-income housing.
China Vanke Co. (000002 CH), the country’s biggest developer by market value, gained 1.8 percent to 8.53 yuan. The company said 2010 profit rose 37 percent to 7.28 billion yuan ($1.11 billion), exceeding the 7 billion yuan estimate by analysts in a Bloomberg survey.
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. (600111 CH) advanced 5.2 percent to 85.56 yuan, the highest since Nov. 10. The company will lead consolidation of the region’s rare earth industry, said Hu’er Cha, the vice chairman of Inner Mongolia National People’s Congress committee, said yesterday.
Yunnan Chihong Zinc & Germanium Co. (600497 CH), China’s fifth-largest zinc producer, gained 2 percent to 31.30 yuan after saying net income rose 75 percent from a year earlier to 461.1 million yuan in 2010.
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