China Stocks: China Southern, Jiangxi Copper, Yanzhou Coal
Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of the close.
The Shanghai Composite Index (SHCOMP) fell 5.9 points, or 0.3 percent, to 2,374.84 at the close, the lowest level since April 17. The CSI 300 Index (SHSZ300) snapped five days of losses, gaining 0.1 percent to 2,617.37.
China Southern Airlines Co. (600029) (600029 CH), the nation’s biggest carrier by passenger numbers, declined 0.9 percent to 4.65 yuan. China warned its tourists last week to avoid “unnecessary” travel to the Philippines amid a dispute between the two countries over an island in the South China Sea.
Jiangxi Copper Co. (600362) (600362 CH), the biggest producer of the metal, slid 1.3 percent to 25.22 yuan. Aluminum Corp. of China Ltd. (601600 CH), the listed unit of nation’s biggest maker of the lightweight metal, declined 0.9 percent to 6.91 yuan. Metal producers fell as the political impasse in Greece fueled concerns that the country may leave the euro area.
Yanzhou Coal Mining Co. (600188) (600188 CH) lost 1.4 percent to 23.26 yuan. China Shenhua Energy Co. (601088) (601088 CH), the largest coal producer, fell 1.2 percent to 25.95 yuan. The price of the country’s coal for power stations declined for the first time since at least 2009.
Qingdao Haier Co. (600690) (600690 CH) surged 7.8 percent to 12.20 yuan. Joyoung Co. (002242) (002242 CH) gained 2.1 percent to 8.17 yuan. Household appliance stocks rose on speculation the government may introduce stimulus measures for the industry.
“Last month, there was a report saying the government may have more stimulus measures for home appliances,” said Li Jun, a strategist at Central China Securities Co. in Shanghai. “That’s due to happen by the first half. It could be that there’s new information on this matter.”
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