China Stocks: Gemdale, Hebei Sailhero, Lanpec, Xinjiang Urban
Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the 3 p.m. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, fell 18.50 points, or 0.7 percent, to 2,515.86. The CSI 300 Index (SHSZ300) lost 1.1 percent to 2,777.79.
Environment protection-related stocks: Hebei Sailhero Environmental Protection High-tech Co. (300137 CH), a manufacturer of environmental monitoring equipment, jumped 8.1 percent to 16.49 yuan, its biggest gain since Jan. 31. Tianjin Capital Environmental Protection Group Co. (600874 CH) climbed 4 percent to 5.74 yuan.
China may announce a plan for developing energy-saving and environmental-protection industries as early as next month, the China Securities Journal reported today. The five-year plan, which will be submitted for review by the State Council, will include financial and tax policies, and companies may be given preferential corporate income tax rates of 15 percent, according to the newspaper.
Xinjiang-based companies: Xinjiang Urban Construction Co. (600545 CH), an infrastructure construction company, surged the 10 percent daily limit to 8.36 yuan. Xinjiang Ba Yi Iron & Steel Co. (600581 CH) added 1.5 percent to 12.79 yuan.
Chinese companies owned by the central government plan to invest 991.6 billion yuan ($155 billion) in the region during the five years through 2015, China Business News reported today. The planned investment is double the amount for the previous five-year period, the newspaper reported, citing Wang Yong, chairman of the State-owned Assets Supervision and Administration Commission.
Gemdale Corp. (600383) (600383 CH), a Shenzhen-based developer, slid 3.6 percent to 6.09 yuan, its biggest retreat since July 12, after first-half profit fell 61 percent from a year earlier to 480 million yuan.
Lanpec Technologies Co. (601798 CH), a manufacturer of petrochemical equipment, jumped 7.4 percent to 13.81 yuan, its biggest gain since July 1. First-half profit jumped 105 percent from a year earlier, it said.
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