March 23 (Bloomberg) -- Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 26.23 points, or 1.1 percent, to 2,349.54. The CSI 300 Index declined 1.2 percent to 2,552.94.
Agricultural Bank of China Ltd. (601288 CH), the nation’s third-biggest lender by market value, fell 0.4 percent to 2.64 yuan. Net income declined 14 percent to 21.2 billion yuan ($3.4 billion) for the three months through December, its first quarterly profit drop since listing two years ago, according to data compiled by Bloomberg based on full-year figures reported by the lender yesterday. That fell short of the 28.84 billion-yuan average estimate of 20 analysts in a Bloomberg survey.
China United Network Communications Ltd. (600050 CH), which controls the nation’s second-largest cell phone operator, slid 1.3 percent to 4.48 yuan after saying 2011 net income rose 14 percent to 1.4 billion yuan. That compared with the average profit estimate of 13 analysts for 2.2 billion yuan.
Kweichow Moutai Co. (600519 CH), China’s biggest producer of baijiu liquor by market value, rose 3.3 percent to 212.02 yuan, its highest close since Dec. 2. Net income increased 73 percent last year, the liquor maker said yesterday. Kweichow Moutai may raise product prices by about 30 percent “soon,” Tong Xun, an analyst at Shenyin & Wanguo Securities Co., wrote in a report today. He recommends buying the stock.
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