China Stocks: Cosco Shipping, Guangzhou Pharmaceutical, Xiali
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, rose 9.17, or 0.3 percent, to 2,827.33. The gauge climbed 1 percent this week, its third straight advance. The CSI 300 Index gained 0.5 percent to 3,120.96.
Cosco Shipping Co. (600428 CH), a unit of China’s biggest shipping company, dropped 1.7 percent to 8.61 yuan, its steepest loss since Jan. 17. The company said it will buy two auto carriers, each capable of holding 5,000 vehicles, from a unit of its parent for $87.1 million.
Guangzhou Pharmaceutical Co. (600332 CH) rallied 7.4 percent to 21.99 yuan, the highest close since Jan. 19. A 55- year-old man died of the H1N1 virus in the southern Chinese city of Shenzhen on Feb. 9, the health department of Guangdong province said in a statement on its website. Guangdong province, in which the city of Shenzhen is located, has reported 143 H1N1 infections this year, according to the statement.
Tianjin FAW Xiali Automobile Co. (000927 CH) advanced 3.5 percent to 8.36 yuan, the highest level since Jan. 19. The automaker said it sold 37,460 vehicles in January, up 19 percent from a year earlier.
--Zhang Shidong. Editor: Shiyin Chen
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