Shares in China South Locomotive rose 58% on their debut in Shanghai to close at RMB3.45 (US$0.50), the Wall Street Journal reported. The company’s stock had earlier risen 77%, but were held back by a falling market. China South Locomotive earlier raised US$952 million through the sale of three billion A-shares priced at RMB2.18 (US$0.32), […]
Category: Banking & Finance
China Merchants Bank said its first-half earnings rose 116.42% despite limited non-interest income, the South China Morning Post reported. In a statement filed with the Shanghai Stock Exchange, the bank said that subdued market sentiment had affected retail banking and its intermediary business. However, profits reached US$1.9 billion over the first six months of the […]
The Shanghai Composite Index fell 5.3% on Monday to 2,319.97 points, a 20-month low, AP reported. Airlines and refiners led the falls as investors were disappointed over a lack of government support for the markets. China Southern Airlines dropped 9.9% to RMB5.27 (US$0.76) despite the release of a positive earnings report. Air China and China […]
Shares in China South Locomotive & Rolling Stock, also known as China Southern Railway (CSR), are set to begin trading in Shanghai and Hong Kong after the company raised US$1.5 billion in a dual listing, the Financial Times reported. The newspaper cited a Reuters survey of analysts projecting CSR’s shares to rise by up to […]
Datang International Power Co, the second-largest listed power company in China, said Monday that its plans to sell US$437 million worth of corporate bonds had been approved, Reuters reported, citing the Shanghai Securities News. The issuance is the first batch in a planned bond sale of US$874 million by Datang. The company said in July […]