Shares of the following companies had unusual moves in China trading. Stock symbols are in parentheses as of 3 p.m. close.
The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, rose 74.17 points, or 2.9 percent, to 2,615.26, its biggest gain since Oct. 15. The CSI 300 Index (SHSZ300) advanced 3.3 percent to 2,903.84.
Pork-related stocks: Fortune Ng Fung Food (Hebei) Co. (600965 CH) surged 7.9 percent to 6.84 yuan. Hunan Dakang Pasture Farming Co. (002505 CH) jumped the 10 percent daily limit to 17.28 yuan. Hunan New Wellful Co. (600975 CH) advanced 6.6 percent to 12.17 yuan.
China’s August pork prices may climb about 50 percent from a year earlier, National Business Daily reported today, citing unidentified people. Pork prices are unlikely to decline “significantly” in the short term because tight supply of live hogs hasn’t eased, the newspaper cited Li Guoxiang, a researcher at the Chinese Academy of Social Sciences, as saying.
Sewage treatment-related stocks: Tianjin Capital Environmental Protection Group Co. (600874 CH) surged by the 10 percent daily limit to 6.16 yuan. Beijing Originwater Technology Co. (300070 CH) added 1.7 percent to 49.38 yuan.
China may spend 1.06 trillion yuan ($165.8 billion) on household and industrial sewage treatment in the five years through 2015, the Shanghai Securities News reported today, citing a Chinese Academy of Environmental Planning report.
Bank of China Ltd. (601988) (601988 CH), the nation’s third-largest lender by assets, climbed 2.4 percent to 3.02 yuan, the most since June 24. First-half profit jumped 28 percent to a record 66.5 billion yuan as loan and fee income climbed, the lender said in a statement. Profit was in line with the 65.8 billion yuan median estimate of nine analysts surveyed by Bloomberg.
Bank of Nanjing Co. (601009 CH), part-owned by BNP Paribas SA, climbed 4.4 percent to 8.58 yuan after first-half net income rose 33 percent from a year earlier to 1.59 billion yuan.
China United Network Communications Ltd. (600050) (600050 CH) jumped 6.8 percent to 4.87 yuan, its biggest gain since Dec. 13. Its Hong Kong-listed unit China Unicom (Hong Kong) Ltd. boosted its second-quarter profit by 50 percent from a year earlier to 2.48 billion yuan. The profit exceeded the 969 million yuan average of four analysts’ estimates compiled by Bloomberg.
CSR Corp. (601766 CH), China’s biggest trainmaker, added 4 percent to 5.26 yuan after saying its units agreed to contracts or won bids on contracts ranging from 400,000 yuan to 2.55 billion yuan. The contracts were with China Railway Investment Corp., the Ministry of Railways, the Ministry of Railway Transport of Turkmenistan, Iranian Rail Transportation Co. and Wuhan Metro Group Co.
Everbright Securities Co. (601788 CH), the Shanghai-based broker, surged 6.8 percent to 12.02 yuan after first-half net income jumped 36 percent from a year ago to 1.13 billion yuan.
Guangzhou Baiyun International Airport Co. (600004 CH) rose 2.3 percent to 7.23 yuan after the airport operator said first- half net income rose 20 percent from a year earlier to 328 million yuan.
Shanghai International Airport Co. (600009 CH), the operator of China’s second-busiest airfield, advanced 2.9 percent to 12.98 yuan. First-half net income rose 31 percent from a year earlier to 722.9 million yuan, Shanghai Airport said in a statement.
Source:bloomberg