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China Stocks: Hebei Iron, ICBC, SAIC Motor, Vanke, Weichai Power
Apr. 11, 2011 07:49AM PST
Base Metals Investing Bloomberg reports that some stocks in China made unusual moves today.
Bloomberg reports that some stocks in China made unusual moves today.
The market news is quoted as saying,
Hebei Iron & Steel Co. (000709 CH) surged 9.9 percent to 4.55 yuan. Angang Steel Co. (000898 CH) climbed 2.3 percent to 8.48 yuan. First-quarter profit at “major” steelmakers may have jumped 188 percent from the fourth quarter last year, Zheng Zhiguo and Mao Shenjing, analysts at Shenyin & Wanguo Securities Co., wrote in a report today. Steelmakers trade at 0.54 times book value, less than the historical average of 0.6 times, according to the report.
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