China Stocks: China CSSC, Vanke, Inner Mongolia Baotou Steel
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. local time close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, dropped less than 0.1 percent to 2,526.07. The CSI 300 Index (SHSZ300) rose 0.2 percent to 2,798.19.
China CSSC Holdings Ltd. (600150) (600150 CH), the unit of the nation’s biggest shipbuilder, added 2.2 percent to 41.46 yuan, the most since July 27. The company’s first-half net income rose 2.7 percent from a year earlier to 1.28 billion yuan ($198.9 million), according to a statement to the Shanghai Stock Exchange.
China National Chemical Engineering Co. (601117 CH) advanced 0.9 percent to 8.15 yuan, the most since Aug. 1. The chemical project contractor said it won a contract valued at $1.3 billion to build coal-fired power stations in Vietnam.
China Vanke Co. (000002 CH), the nation’s biggest listed property developer, gained 3 percent to 8.30 yuan, the most since June 14. The company’s first-half profit rose 5.9 percent from a year earlier to 2.98 billion yuan on sales that increased 19 percent, according to a statement to the Shenzhen Stock Exchange.
Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. (600111 CH), China’s biggest producer of rare earth, advanced 4.8 percent to 64.23 yuan, its biggest gain since June 7. The company’s first-half net income jumped 459 percent from a year earlier to 1.98 billion yuan, according to a statement to the Shanghai Stock Exchange. The company also said it expects a “big increase” in profit for the first nine months.
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