May 31 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of the 3 p.m. local time close.
The Shanghai Composite Index rose 37.1, or 1.4 percent, to 2,743.47. The CSI 300 Index added 1.6 percent to 3,001.56.
Coal producers: China Shenhua Energy Co. (601088 CH) advanced 1.9 percent to 28.36 yuan, the most in two weeks. Yanzhou Coal Mining Co. (600188 CH) added 2.9 percent to 32.47 yuan.
Coal with an energy value of 5,500 kilocalories per kilogram gained 0.6 percent to between 830 and 845 yuan a metric ton on May 30 compared with a week earlier, according to the China Coal Transport and Distribution Association. That’s the highest since October 2008.
Gold producers: Zijin Mining Group Co. (601899 CH), China’s biggest gold producer by market value, rose 2.3 percent to 7.13 yuan, the biggest increase since April 20. Shandong Gold Mining Co. (600547 CH) increased 1.7 percent to 44.79 yuan.
The price of the precious metal in Shanghai rose to a record high of 320.89 yuan a gram.
Power companies: Huaneng Power International Inc. (600011 CH), the listed unit of China’s largest power group, gained 2 percent to 5.64 yuan, the biggest rise since May 9. China Yangtze Power Co. (600900 CH) climbed 1.2 percent to 7.40 yuan, the largest gain since May 6.
Power prices for industrial users in 15 provinces will increase starting tomorrow and those paid by residential users will remain unchanged, said an official with the National Development and Reform Commission, the top economic planner, who declined to be identified because of internal rules.
China Railway Group Ltd. (601390 CH) rose 1 percent to 4.15 yuan, the biggest gain since April 29. The company’s controlling shareholder, China Railway Engineering Corp., proposed an issue of as much as 10 billion yuan of debt financing instruments in the country’s inter-bank bond market, according to a statement to the Hong Kong stock exchange yesterday.
Hebei Iron & Steel Co. (000709 CH) surged 6.4 percent to 4.50 yuan, the biggest gain since April 12. The company received approval from the China Securities Regulatory Commission to sell up to 3.8 billion additional new shares, according to a statement to the Shenzhen Stock Exchange yesterday.
Zhonghong Real Estate Co. (000979 CH) jumped 3.5 percent to 6.87 yuan. Its design company said the property developer plans to spend 10 billion yuan ($1.5 billion) building a “monkey kingdom” theme park in Beijing based on the 400-year-old Chinese novel “Journey to the West.” The park is scheduled to open in 2014, according to an e-mailed statement from the design company, Thinkwell Group.
To contact Bloomberg News staff for this story: Irene Shen in Shanghai at Ishen4@bloomberg.net
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