Bright Dairy, Citic, China Eastern, Sany: China Equity Preview

   Date:2011/08/31

Aug. 30 (Bloomberg) -- 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 1.4 percent to 2,576.41. The CSI 300 Index fell 1.7 percent to 2,852.81.

Bright Dairy & Food Co. (600597 CH): The country's second- largest listed dairy-product maker said first-half net income rose 20 percent from the same period a year ago to 73.3 million yuan ($11.5 million). The stock was unchanged at 9.8 yuan.

Beiqi Foton Motor Co. (600166 CH): China's biggest commercial vehicle maker said first-half net income fell 38.5 percent from a year earlier to 706 million yuan. Shares fell 2.8 percent to 7.98 yuan.

China Citic Bank Corp. (601998 CH): The banking unit of the nation's largest state-owned investment firm said first-half profit rose 40 percent as lending and fee income climbed. The stock slid 3.7 percent to 4.46 yuan.

China Construction Bank Corp. (601939 CH): Bank of America Corp. agreed to sell about half its stake in China's second- biggest bank for a $3.3 billion gain. A group of investors will buy 13.1 billion shares in a private deal closing this quarter that will generate $8.3 billion in cash, Bank of America said in a statement, without identifying the buyers. It's keeping a 5 percent stake in CCB, and the lenders are discussing an expansion of strategic ties.

China Construction Bank lost 1.3 percent to 4.50 yuan.

China Eastern Airlines Corp. (600115 CH): The nation's third-largest carrier by market value said first-half profit jumped 30 percent on rising domestic travel and a stronger yuan. The shares declined 2.7 percent to 5.52 yuan.

Citic Securities Co. (600030 CH): China's biggest listed brokerage said it gained permission from regulators to sell as many as 1.1 billion shares in Hong Kong. The shares dropped 4 percent to 12.16 yuan.

Daqin Railway Co. (601006 CH): The operator of China's biggest coal transport network said its first-half net income rose 18.5 percent from a year ago to 6.2 billion yuan. The stock fell 0.9 percent to 7.62 yuan.

Sany Heavy Industry Co. (600031 CH): The biggest Chinese machinery maker by market value aims to start trading in Hong Kong in early October after a $3 billion share sale, two people with knowledge of the matter said. The stock retreated 2.1 percent to 16.09 yuan.

Shanghai International Port (Group) Co. (600018 CH): The world's busiest port for containers said first-half net income fell 4.5 percent from the same period a year ago to 2.49 billion yuan. Its shares sank 1.4 percent to 3.46 yuan.

Tianjin FAW Xiali Automobile Co. (000927 CH): The automaker said first-half net income fell 84 percent from the same period a year ago to 46 million yuan. Shares slid 0.1 percent to 8.38 yuan.

Source:sfgate

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