China Stocks: China Construction, Chalco, ICBC, Tongkun, Yaoji
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, fell 2.2 percent to 2,626.42. The CSI 300 Index (SHSZ300) dropped 2.1 percent to 2,897.42.
Banks: Industrial & Commercial Bank of China (601398) Ltd. (601398 CH), the nation’s biggest lender by market value, lost 1.2 percent to 4.11 yuan, the lowest since Dec. 29. China Construction Bank Corp. (939) (601939 CH), the second-largest, declined 2 percent to 4.53 yuan. China should maintain the strength of monetary policy to consolidate and enhance achievements from previous measures, the Financial News said in a commentary today.
Metal producers: Aluminum Corp. of China Ltd. (601600 CH) retreated 3.1 percent to 9.94 yuan, the lowest since June 2. Yunnan Aluminum Co. (000807 CH) lost 3.9 percent to 9.27 yuan. Aluminum for October delivery fell 3.6 percent to 17,485 yuan ($2,715) a metric ton on the Shanghai Futures Exchange. Zinc for delivery in the same month dropped 6 percent to 17,165 yuan a metric ton.
Shanghai Yaoji Playing Card Co. (002605 CH) surged 72 percent to 36.06 yuan on its first day of trading in Shenzhen, compared with the initial public offering price of 21 yuan.
TongKun Group Co. (601233 CH) jumped 6.3 percent to 34.47 yuan, the highest since its listing on May 18. The company’s net income rose 58 percent to 496 million yuan in the first half of this year, according to a statement to the Shanghai Stock Exchange.
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