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. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, added 38.93 points, or 1.5 percent, to 2,688.25. The CSI 300 Index gained 1.7 percent to 2,957.63.
Cement makers: Anhui Conch Cement Co. (600585 CH) climbed 4.6 percent to 27.59 yuan. Huaxin Cement Co. (600801 CH) jumped 5.7 percent to 25.57 yuan.
The Beijing government will support the sale of 50 billion yuan ($7.7 billion) of corporate bonds by property developers to fund the construction of affordable housing, the Securities Times reported yesterday, citing Zhang Guilin, president of Beijing Zhuzong Group Co.
Machinery makers: Sany Heavy Industry Co. (600031 CH) added 3.3 percent to 17.67 yuan, the highest since May 11. Changsha Zoomlion Heavy Industry Science and Technology Development Co. (000157 CH) gained 3.3 percent to 15.25 yuan.
China may release a development plan for the construction machinery industry in July, China Business News reported, citing Su Zimeng, secretary general for the China Construction Machinery Association. Su said he expects the industry’s sales to grow an average 17 percent a year in the five years through 2015, the report said.
Wind-power companies: Sinovel Wind Group Co. (601558 CH), China’s largest wind-turbine maker, increased 6.3 percent to 29.26 yuan, the biggest gain since May 31. Xinjiang Goldwind Science & Technology Co., (002202 CH), the second-biggest wind-turbine maker, climbed 2 percent to 14.72 yuan.
China will increase offshore wind-power installed capacity to five gigawatts by 2015 and 30 gigawatts by 2020, Xinhua News Agency reported, citing the National Energy Administration. A public tender for the second round of offshore wind-power concession projects, with a total installed capacity of up to 2 gigawatts, will be completed during the first half of 2012, according to the report.
Dongfang Electric Corp. (600875 CH) advanced 4.4 percent to 24.73 yuan, the biggest gain since May 3. The power-equipment producer said its controlling shareholder bought 5.6 million shares between Dec. 1 and June 22, increasing its stake to more than 50 percent, according to a Hong Kong stock-exchange filing.
Sichuan Minjiang Hydropower Co. (600131 CH) surged by the 10 percent daily limit to 7.87 yuan after saying a power plant resumed production. The plant, which was damaged in an earthquake in May 2008, has restarted, according to a statement to the Shanghai Stock Exchange yesterday.