Chinese Stocks in the U.S.: ATA Inc., China Unicom, Yanzhou Coal
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, climbed 0.7 percent to 423.44. The American Stock Exchange China Index rose 0.5 percent to 247.81. The Shanghai Composite Index slid 0.3 percent to 2,767.06.
The following companies were among the most active Chinese shares in New York trading. Stock symbols are in parentheses and prices are as of the close of trading at 4 p.m. New York time.
ATA Inc. (ATAI US), China’s largest provider of computer- based testing services, jumped 6.4 percent to $10.62, the highest since September 2008. The Beijing-based company will report financial results for the fourth quarter and the fiscal year ended in March on June 1, it said in a statement distributed by PR Newswire today.
China has added a net 41.39 million mobile users in the first four months this year to reach a total of 900 million, the Ministry of Industry and Information Technology said in an online statement today. Fixed-line phone users declined 1.28 million to 291.5 million.
China Mobile Ltd. (CHL) , the world’s biggest wireless network carrier by market value, rose 1.6 percent, the most in more than two months, to $44.48.
China Unicom (Hong Kong) Ltd. (CHU US), the nation’s second-largest mobile-phone carrier, climbed 0.7 percent to $20.35. The company, which was the first carrier in China to offer the iPhone in 2009, started a 66-yuan-a-month ($10) plan for the iPhone after previously setting the lowest-priced package at 96 yuan, President Lu Yimin said today in Hong Kong. Demand for the iPhone will help Unicom exceed its target of adding 25 million customers for its 3G, or third-generation, services this year, Lu said.
China Telecom Corp. (CHA US), the nation’s biggest fixed- line phone carrier, increased 0.2 percent to $57.18.
Ku6 Media co. (KUTV US), which provides online video- sharing service in China, gained 3.1 percent to $3.95. The company, which merged with Hurray! Holdings Co. in January 2010, said today its first-quarter revenue rose 178.5 percent from a year ago to $6.6 million. The company incurred a net loss of $10.9 million in the quarter, compared with a loss of $9.9 million a year earlier.
Yanzhou Coal Mining Co. (YZC US), China’s fourth-largest producer, increased 3.7 percent, the biggest in a week, to $38.27. The company may raise more than A$1 billion ($1.1 billion) in an initial share sale for at least a third of its Australian unit by the end of the year, Ian McAleese, investor relations manager of Brisbane-based Yancoal Australia Ltd., said in an e-mailed response to questions. Yanzhou bought Felix Resources Ltd. for A$3.1 billion in 2009, China’s biggest takeover of an Australian company. An IPO of these assets may be Australia’s biggest since the sale of coal transport company QR National Ltd. raised A$3.97 billion in October last year.
To contact the reporter on this story: Belinda Cao in New York at Lcao4@bloomberg.net
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