China Trainmakers CNR, CSR Shares Surge on Merger Report

Shares in CSR Corp. and China CNR Corp., the nation’s two biggest trainmakers, surged following a report the government wants them to merge. The two companies said no plans had been submitted.

CSR shares surged as much as 7.1 percent to HK$7.65 and traded up 4.3 percent at HK$7.45 as of 10:15 a.m. in Hong Kong. China CNR gained as much as 5.7 percent. Both shares resumed trading today after they requested a halt yesterday.