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 17.15 points, or 0.7 percent, to 2,498.94. The CSI 300 Index declined 0.8 percent to 2,756.10.
Energy-efficiency stocks: Hebei Sailhero Environmental Protection High-tech Co. (300137 CH) jumped 4.8 percent to 16.48 yuan, its biggest gain since Aug. 22. Nanjing CEC Environmental Protection Co. (300172 CH) advanced 1.7 percent to 20.78 yuan. China’s State Council reiterated its five-year goal of cutting energy use per unit of gross domestic product by 16 percent in a statement on the government’s website yesterday.
“We expect more support policies to come out and more projects to start in different parts of the country in the second half than in the first half,” Wang Haixu and Wu Fei, analysts at Citic Securities Co., wrote in a report today in response to the government statement.
Beijing Jingyuntong Technology Co. (601908 CH), a maker of photovoltaic equipment, climbed 11 percent to 46.63 yuan on the first day of trading in Shanghai.
Poly Real Estate Group Co. (600048 CH), China’s second-largest developer by market value, fell 1.3 percent to 10.49 yuan. The company said its August contracted sales fell 12 percent from a year earlier to 6.02 billion yuan ($943 million). It also bought four land parcels in three Chinese cities for 3.7 billion yuan.
Shanxi Coking Co. (600740 CH), the country’s largest publicly traded coke producer, gained 1.6 percent to 13.13 yuan, its highest close this month. The company plans to raise 1.71 billion yuan in a private placement of as many as 200 million shares to up to 10 investors, it said in a statement yesterday. The proceeds will be used to upgrade technologies and repay bank loans, it said.