China Stocks: Anhui Conch, China Shenhua Energy, Poly Real
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), which tracks the bigger of China’s stock exchanges, added 25 points, or 1.1 percent, to 2,373.31 at the close. The CSI 300 Index (SHSZ300) advanced 1.6 percent to 2,627.53.
Anhui Conch Cement Co. (600585) (600585 CH), the biggest Chinese cement producer, climbed 3.4 percent to 16.67 yuan, the biggest gain since April 5. Sany Heavy Industry Co. (600031) (600031 CH), the biggest maker of excavators, jumped 5.3 percent to 14.43 yuan. The China Securities Journal reported the government plans to speed up approval of infrastructure construction projects.
Beijing Shougang Co. (000959) (000959 CH) fell 3.7 percent to 2.90 yuan after the World Steel Association said the country’s crude- steel output dropped in April.
China Shenhua Energy Co. (601088) (601088 CH) climbed 1 percent to 26.26 yuan after China International Capital Corp. said the coal industry may rally as early as the third quarter.
China Vanke Co. (000002) (000002 CH), the nation’s biggest developer, gained 3.9 percent to 9.01 yuan and Poly Real Estate Group Co. (600048) (600048 CH), the second largest, climbed 5.4 percent to 13.41 yuan. Macquarie Securities Ltd. said China may loosen property restrictions by the end of the year and the 21st Century Business Herald reported China is unlikely to expand property tax trials nationwide.
-- Editor: Allen Wan
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