Shares of the following companies may have unusual moves in China trading. Stock symbols are in parentheses and prices are as of the previous close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, slid 1.1 percent to 2,528.28. The CSI 300 Index (SHSZ300) dropped 1.1 percent to 2,803.85.
Automakers: More Chinese cities may restrict vehicle purchases to help reduce traffic jams and improve air quality, Jiang Kejun, director of the Energy Research Institute at the National Development and Reform Commission, said in Tianjin yesterday. Local governments don’t need the central government’s approval if they decide to restrict vehicle sales, said Jiang.
SAIC Motor Corp. (600104 CH) added 15.40 yuan. BYD Co. (002594 CH) lost 0.1 percent to 24.07 yuan.
Appliances makers: China sold 18.7 billion yuan ($2.9 billion) of home applliances in August under the country’s rural appliances stimulus program, an increase of 9.5 percent from the same period a year earlier, the Ministry of Commerce said on Sept. 2. Sales for the first eight months totaled 163.2 billion yuan, the statement said.
Gree Electric Appliance Inc. (000651 CH) slipped 0.7 percent to 20.80 yuan. GD Midea Holding Co. (000527 CH) was unchanged at 16.12 yuan. Qingdao Haier Co. (600690 CH) declined 2.3 percent to 10.92 yuan.
Xinjiang companies: China will support inter-bank bond financing for companies in the northwestern region of Xinjiang, according to a statement on the central bank’s website on Sept. 2, citing deputy governor Ma Delun. The People’s Bank of China set the reserve ratio requirement for Xinjiang’s rural credit cooperatives and city banks at two to six percentage points lower than large commercial banks, the statement said.
Xinjiang Tianye Co. (600075) (600075 CH) dropped 2.6 percent to 11.82 yuan. Xinjiang Goldwind Science & Technology Co. (002202 CH) sank 1.6 percent to 11.22 yuan. Xinjiang Guanghui Industry Co. (600256 CH) retreated 1.6 percent to 24.91 yuan.
Jiangling Motors Corp. (000550 CH) sold 14,497 vehicles in August, a decline from 15,572 units the same period a year earlier, according to a statement to the Shenzhen Stock Exchange. The stock fell 0.8 percent to 22.16 yuan