China Stocks in the U.S.: Cathay, Sinopec, Petrochina, UTStarcom
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, was little changed at 416.65. The American Stock Exchange China Index dropped 0.4 percent to 228.52. The Shanghai Composite Index lost 0.2 percent to 2,893.74.
The following companies were among the most active Chinese shares in New York trading. Stock symbols are in parentheses and prices are as of 4:55 p.m. New York time.
Cathay Pacific Airways Ltd. (CPCAY US) climbed 1.4 percent to $14.17, the biggest increase in a week. Hong Kong’s biggest carrier may soon agree on “joint communications” after talks this week with union members representing pilots, Carolyn Leung, an airline spokeswoman, said in an e-mailed response to questions.
Oil producers fell after Inner Mongolia Daily reported that China started levying a 5 percent tax on oil and gas exploration in 12 provinces in the country’s western region Dec. 1.
China Petrochemical Corp. (SNP US), Asia’s biggest refiner, fell 1.1 percent to $91.15, the lowest level since Oct. 12.
PetroChina Co. (PTR US), the nation’s largest oil and gas producer, lost 0.6 percent to $123.64, the lowest level since Nov. 30.
UTStarcom Inc. (UTSI US) jumped 2.1 percent to $1.96, the biggest increase since Nov. 11. The Chinese maker of phone equipment and wireless handsets added a division aimed at establishing business ties with cable and telecom operators, among other changes in its management structure, according to a statement distributed by PRNewswire.
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