ICBC, Minsheng, SAIC, Xinjiang Goldwind: China Equity Preview
The following companies may have unusual price changes in China trading. Stock symbols are in parentheses, and share prices are as of the last close.
Automakers: The city of Beijing introduced measures including limiting the number of new passenger vehicles in the Chinese capital to ease congested roads. The city will issue new license plates through a lottery and require passenger vehicles that aren’t registered in Beijing to apply for a permit before entering the capital, according to the municipal government.
SAIC Motor Corp. (600104 CH), China’s largest carmaker, dropped 1.6 percent to 16 yuan. FAW Car Co. (000800 CH), which makes passenger cars in China with Volkswagen AG, slid 1.7 percent to 16.77 yuan.
China Minsheng Banking Corp. (600016 CH): The nation’s first privately owned bank said it won a bid to buy a piece of land in Xiamen for 120.5 million yuan ($18.1 million). The stock gained 0.6 percent to 5.09 yuan.
China Railway Group Ltd. (601390 CH): The nation’s biggest construction company by total assets said it plans to raise as much as 19 billion yuan through the issue of short-term bonds including up to 3 billion yuan raised overseas. The shares lost 0.7 percent to 4.45 yuan.
Chongqing Iron & Steel Co. (601005 CH): The steel mill said it will invest a total of 730 million yuan on a construction project in Chongqing. The stock fell 1 percent to 3.94 yuan.
Gansu Jiu Steel Group Hongxing Iron & Steel Co. (600307 CH): The steelmaker said it plans to raise as much as 9.6 billion yuan via the private placement of as many as 1.086 billion shares. The stock dropped 2.6 percent to 9.87 yuan on Dec. 20 before the stock was suspended.
Industrial & Commercial Bank of China Ltd. (601398 CH): The world’s largest lender by market value raised HK$13 billion ($1.67 billion) in the Hong Kong part of a rights offer after 99.05 percent of existing investors subscribed. The stock was unchanged at 4.18 yuan.
Xinjiang Goldwind Science & Technology Co., Ltd. (002202 CH): The country’s biggest listed maker of wind turbines said the lock-up period of its A-shares will expire on Dec. 25. The stock fell 3.1 percent to 23.30 yuan.
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org