China Stock Movers: Anhui Gujing, China Nonferrous, Vanke
Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses and prices are as of the close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, advanced 1.7 percent to 2,409.67. The CSI 300 Index added 1.9 percent to 2,625.43.
GPS companies: Beijing BDStar Navigation Co. (002151 CH) jumped the 10 percent daily limit to 25.10 yuan, its biggest gain since Sept. 3, 2010. Beijing UniStrong Science & Technology Co. (002383 CH) gained 7.8 percent to 26.55 yuan while Chengdu GoldTel Electronical Technology Co. (300101 CH) climbed 5.2 percent to 30.02 yuan.
China will require about 1 million trucks to install domestically made global positioning satellite navigation systems, Xinhua News Agency reported yesterday, citing vice transportation minister Feng Zhenlin.
Anhui Gujing Distillery Co. (000596 CH) rose 3.4 percent to 86.09 yuan. The company’s third-quarter net income surged 77 percent from a year ago to 62.6 million yuan, according to a statement to the Shenzhen Stock Exchange yesterday.
China Nonferrous Metal Industry’s Foreign Engineering and Construction Co. (000758 CH) jumped 8.9 percent to 21.12 yuan. The company said 2011 net income may rise as much as 750 percent from a year earlier to up to 418 million yuan, according to a statement to Shenzhen’s stock exchange today.
China Vanke Co. (000002 CH), the nation’s biggest developer by market value, increased 2.9 percent to 7.40 yuan, the highest since Sept. 23. The company’s third-quarter profit rose 32 percent to 606 million yuan from a year earlier, according to a statement to the Shenzhen Stock Exchange yesterday.
Shanghai Xinhua Media Co. (600825 CH) surged 10 percent to 7.40 yuan, the biggest gain since April 13, 2009. The company’s net income increased to 123.6 million yuan in the third quarter, according to a statement to the Shanghai Stock Exchange yesterday.
Wuhan Iron & Steel Co. (600005 CH), the publicly traded unit of China’s fourth-biggest mill, added 1.5 percent to 3.41 yuan. The company said third-quarter profit gained 24 percent to 413.4 million yuan from a year ago, according to a statement to the Shanghai Stock Exchange yesterday.
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