Chinese Stocks in the U.S.: Concord Medical, Kanghui, Sinopec
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, climbed 0.3 percent to 441.76. The American Stock Exchange China Index gained 0.4 percent to 256.90. The Shanghai Composite Index slid 0.5 percent to 2,708.78.
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.
China Petroleum and Chemical Corp. (SNP US), the country’s biggest refiner known as Sinopec, climbed 0.5 percent to $98.72. Sinopec will make an initial investment of 580 million yuan ($90 million) in its lubricant plant in Singapore, Xinhua News Agency reported.
PetroChina Co. (PTR US), the nation’s biggest oil producer, retreated 0.2 percent to a one-month low of $142.93. The company’s daily oil and gas output overseas rose 30,000 tons in the first half of the year from a year earlier, the official Xinhua News Agency reported.
Cnooc Ltd. (CEO) , China’s largest offshore energy producer, added 1.6 percent to $222.12.
China Kanghui Holdings, Inc. (KH US), which makes orthopedic medical devices, gained 3.6 percent to $21.68, the highest in more than two weeks. The company plans to release second-quarter financial results on Aug. 16, it said in a statement.
Concord Medical Services Holdings Ltd. (CCM) , which owns and operates radiotherapy and diagnostic imaging centers in China, advanced 3.4 percent to a one-week high of $3.65. The company’s board declared a special dividend of $0.06 per ordinary share, or $0.18 per American depositary share, to shareholders of record by Aug. 31, Concord said in a statement distributed via PR Newswire. Total expense for the dividends, payable on Sept. 30, is expected to be about $8.5 million, it said.
UTStarcom Holdings Corp. (UTSI US), an Internet-based TV service provider, rose 0.7 percent to $1.36. The company said it will hold a conference call to discuss its second quarter financial results before the U.S. market opens on Aug. 9.
To contact the reporter on this story: Belinda Cao in New York at Lcao4@bloomberg.net
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