China Stocks: Beijing Tongrentang, Beiqi Foton, PetroChina
Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of the 11:30 a.m. break.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, declined 2.99, or 0.1 percent, to 2,817.18. The CSI 300 Index (SHSZ300) dropped less than 0.1 percent to 3,126.02.
Drug stocks: Beijing Tongrentang Co. (600085 CH), a retailer of Chinese medicine, advanced 4.6 percent to 19.13 yuan, extending a 10 percent jump on July 15 and reaching a new record. Beijing Tiantan Biological Products Co. (600161) (600161 CH), rose 9.1 percent to 20.74 yuan, the biggest gain since November 2. Shanghai RAAS Blood Products Co. (002252 CH) increased by the 10 percent daily limit to 31.02 yuan.
China may announce a five-year plan for the biomedicine industry’s development by the end of this month as annual grow in drug sales may reach about 23 percent by 2015, Shanghai Securities News reported July 15, citing Yu Mingde, head of the China Pharmaceutical Enterprises Association.
Beiqi Foton Motor Co. (600166 CH): China’s biggest commercial-vehicle maker, rose 4.2 percent to 9.47 yuan after the company said it agreed to sell 80 hybrid passenger vehicles to two companies in Changsha to use for public transport.
PetroChina Co. (601857 CH): China’s largest oil company, slid 0.6 percent to 10.7 yuan, the lowest level since June 22. A fire started at a refinery owned by the company’s parent group, China National Petroleum Corp in Dalian on July 16. CNPC stopped the blaze, without causing any environmental pollution, the company said in a statement on its website.
--Penny Peng, Zhang Shidong. Editor: Allen Wan
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