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, rose 2.05 points, or 0.1 percent, to 2,703.78. The CSI 300 Index gained 0.2 percent to 2,977.72.
Developers: China Vanke Co. (000002 CH), the nation’s largest developer, rose 1.7 percent to 8.29 yuan, the biggest gain since July 1. Poly Real Estate Group Co. (600048 CH), the second-biggest, added 2.1 percent to 10.69 yuan. Shenzhen Heungkong Holding Co. (600162 CH) gained 5.4 percent to 5.25 yuan.
Some Chinese cities may ease or cancel limits on home purchases next year to support local economic growth, Oriental Morning Post reported today, citing Yang Hongxu, head of E-House China R&D Institute.
Xinjiang-based companies: Xinjiang Bai Hua Cun Co. (600721 CH), a diversified holding company based in Urumqi, the capital of Xinjiang province, fell 4.1 percent to 19.72 yuan, the lowest close since June 3. Xinjiang Youhao (Group) Co. (600778 CH), a department-store operator, dropped 5 percent to 13.09 yuan. Xinjiang Korla Pear Co. (600506 CH), a producer of pears and other fruits, declined 5 percent to 12.20 yuan.
Violence in the Xinjiang region of western China in the past two days left at least 20 people dead.
China XD Electric Co. (601179 CH), the biggest maker of electricity transmission and distribution equipment, fell 1.1 percent to 5.52 yuan, the lowest price since the shares began trading in January 2010. The company’s first-half profit fell 93 percent to 36 million yuan ($5.59 million) from a year earlier, according to a preliminary earnings statement filed to the Shanghai Stock Exchange on July 29.
Daqin Railway Co. (601006 CH), a coal transportation service provider in Northern China, gained 1.1 percent to 7.68 yuan, the biggest increase since July 13. The company got approval from the China Securities Regulatory Commission to issue as much as 8 billion yuan of bonds, according to a filing to the Shanghai Stock Exchange on July 29.
Hubei Xingfa Chemicals Group Co. (600141 CH), rose 7.2 percent to 24.19 yuan, the steepest gain since March 25, after saying its parent company will acquire a controlling stake in a phosphorus mine.
Tonghua Grape Wine Co. (600365 CH), a Jilin-based wine manufacturer, fell by its daily limit of 5 percent to 11.22 yuan, the biggest drop since Feb. 16. The company said it canceled a plan to acquire four wine companies, according to a statement to the Shanghai Stock Exchange.
Yanzhou Coal Mining Co. (600188 CH), China’s fourth-largest coal producer, increased 1.4 percent to 33.02 yuan. The Shandong government approved Yanzhou Coal’s bid to acquire Australia’s Syntech Resources Pty Ltd., according to a statement posted on the National Development and Reform Commission’s website on July 29.