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China Stocks: China National Software, Shanghai Lujiazui Finance

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June 29 (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. close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 30.72, or 1.1 percent to 2,728.48. The CSI 300 Index dropped 1.4 percent to 3,000.17.

Anhui Xinke New Materials Co. (600255 CH) climbed 3.9 percent to 10.20 yuan, the most since April 29. The company will invest 665.4 million yuan in a copper rod plant with a capacity of 120,000 tons, according to a statement to the Shanghai Stock Exchange.

China National Software & Service Co. (600536 CH) surged by the 10 percent daily limit to 19.46 yuan after saying its affiliates received government’s subsidies totaling 305 million yuan. The affiliates got the subsidies for their research projects on software and database development, according to a statement to the Shanghai Stock Exchange today.

Shanghai Lujiazui Finance & Trade Zone Development Co. (600663 CH) advanced 1.7 percent to 14.10 yuan, the highest since June 15. The company will post a 1.45 billion yuan gain from a land sale, according to a statement to Shanghai’s stock exchange.

Shenzhen Development Bank Co. (000001 CH) lost 2.4 percent to 16.63 yuan, the most since June 2. Shenzhen Development Bank said loans to local government financing vehicles currently account for about 5.5 percent of its total advances and the lender will continue to reduce this exposure, President Richard Jackson told reporters on a conference call.

To contact Bloomberg News staff for this story: Irene Shen in Shanghai at ishen4@bloomberg.net

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

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