China Stocks: Hebei Iron, ICBC, SAIC Motor, Vanke, Weichai Power

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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