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China Stocks: Anhui Conch, Beiqi Foton, Gemdale, Ping An

Sept. 27 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 3 p.m. close.

The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 21.87 points, or 0.9 percent, to 2,415.05. The CSI 300 Index gained 1 percent to 2,637.88.

Construction materials: Anhui Conch Cement Co. (600585 CH), China’s biggest cement maker, rose 1.7 percent to 18.42 yuan. Gansu Qilianshan Cement Group Co. (600720 CH) advanced 1.7 percent to 12.48 yuan.

China will expand trials for giving subsidies to rural households for using cement and energy-saving construction material while building homes, the Ministry of Housing and Urban-Rural Development said in a statement on its website.

Beiqi Foton Motor Co. (600166 CH), China’s biggest commercial-vehicle maker, climbed 6.2 percent to 7.94 yuan. Daimler AG said its joint venture with Foton Motor to build trucks in China received approval by Chinese authorities.

Gemdale Corp. (600383 CH), the Shenzhen-based developer, lost 1 percent to 5.05 yuan. Gemdale cut prices for an apartment project in Shanghai by 15 percent, the Shanghai Securities News reported, without saying where it got the information.

Ping An Insurance Group Co. (601318 CH), China’s second-biggest insurance company, gained 1.8 percent to 35 yuan. Ping An said its main shareholders haven’t reduced their stakes and have no plans to do so, according to the company’s Shenzhen-based spokesman Sheng Ruisheng.

To contact Bloomberg News staff for this story: Zhang Shidong in Shanghai at szhang5@bloomberg.net

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

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