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 10.01, or 0.3 percent, to 2,919.14. The CSI 300 Index gained 0.5 percent to 3,222.96.
Alternative energy-related stocks: Sinovel Wind Group Co. (601558 CH), the country’s biggest maker of wind turbines, lost 1.3 percent to 74.07 yuan. Xinjiang Goldwind Science & Technology Co. (002202 CH), the second biggest, slid 3.2 percent to 21.21 yuan. Risen Energy Co. (300118 CH), a manufacturer of solar cells, lost 2.7 percent to 73.70 yuan.
Japanese Prime Minister Naoto Kan said yesterday there’s “light at the end of the tunnel” in the nation’s battle to avert a nuclear meltdown at a crippled nuclear power plant. The Nikkei 225 Stock Average jumped 4.4 percent today.
Cement stocks: Anhui Conch Cement Co. (600585 CH), China’s biggest cement maker, jumped 4.8 percent to 37.88 yuan, the highest close since January 2008. Huaxin Cement Co. (600801 CH), the Chinese affiliate of Holcim Ltd., surged 6.1 percent to 45.16 yuan.
Cement prices rose 0.2 percent last week from a week earlier, analysts led by Zeng Hao at Citic Securities Co. wrote in a report dated yesterday. The brokerage predicted a peak season for cement consumption in late March and maintained an “overweight” rating on the industry.
Anhui Heli Co. (600761 CH), a manufacturer of trucks and construction machinery, surged 7.7 percent to 20.32 yuan, its biggest gain since Jan. 27. Net income for 2010 jumped 224 percent from a year earlier to 362.1 million yuan ($55.2 million) as the profit margin increased, Anhui Heli said in a statement last night.
China Minsheng Banking Corp. (600016 CH), the nation’s first privately owned bank, rose 2.3 percent to 5.28 yuan. The lender sold 6 billion yuan of 10-year subordinated bonds at a coupon rate of 5.5 percent and 4 billion yuan of 15-year subordinated bonds at 5.7 percent, according to a statement on the Chinese government bond clearing house website yesterday.
Dalian Dayang Trands Share Co. (600233 CH), an apparel maker, jumped by the 10 percent daily limit to 17.39 yuan, the highest close since Nov. 11. The company said yesterday 2010 net income rose 24 percent to 138.2 million yuan from a year earlier on sales that increased 25 percent.
Zhejiang Guyuelongshan Shaoxing Wine Co. (600059 CH), a rice wine maker, added 1.8 percent to 12.44 yuan after saying it raised prices for its products by about 7 percent on March 19.