China Stocks: Beijing Capital, Qingdao Haier, Poly, Vanke
Property stocks: China Vanke Co. (000002) (000002 CH), the nation’s biggest listed property developer, slid 3.8 percent to 9.43 yuan. Poly Real Estate Group Co. (600048 CH), the second largest, tumbled 4.9 percent to 11.78 yuan. China Merchants Property Development Co. (000024 CH), the third biggest, fell 3.5 percent to 24.91 yuan.
New home prices rose from a month earlier in June in 25 out of the 70 cities tracked by the government, compared with six cities posting month-on-month price gains in May, the National Bureau of Statistics said today. A rebound in housing prices makes it more difficult for the government to loosen property curb measures, Zhang Zhiwei, an economist at Nomura Holdings Inc., wrote in a report.
Beijing Capital Retailing Group Co. (600723) (600723 CH), a department-store operator, advanced 5.5 percent to 8.09 yuan, rising the most since May 14. The company said first-half profit may have climbed 20 percent from a year earlier.
China Shipping Container Lines Co. (601866) (601866 CH), the country’s second-largest carrier of sea-cargo boxes, rose 1.2 percent to 2.57 yuan, the most in a week. The company is increasing some of its key shipping rates starting next week, China Shipping Container said in a statement on its website.
Qingdao Haier Co. (600690) (600690 CH), China’s biggest refrigerator maker, jumped 6.2 percent to 11.08 yuan, its biggest gain since May 15. The company said yesterday first-half profit probably rose between 19 percent and 23 percent from a year earlier. Haier had its earnings per share estimate for this year lifted by 2.6 percent to 1.18 yuan and for 2013 by 1.5 percent to 1.35 yuan, Zhou Haichen and Cai Wenjuan, analysts at Shenyin & Wanguo Securities, wrote in a note today.
--Zhang Shidong. Editor: Allen Wan
To contact the editor responsible for this story: Darren Boey at email@example.com