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Market Wrap

1/10

Mixed Bag at the Friday Close China's stock markets closed mixed on Friday, with Shanghai down and Shenzhen up.

The Shanghai Composite Index saw its short-lived rally end, as it slid 33.64 points, or 1.24%, to stand at 2,669.89. The Shenzhen Component Index posted a 2.55-point gain, equal to a 0.03% increase, closing at 9,400.72. Combined transaction volume slipped approximately 20% from Thursday.

China Shenhua led the collective slump in coal stocks, amidst market rumours alleging that the government may impose heavier resource taxes. Certain banking stocks cheered the markets, with ICBC and Shanghai Pudong Development Bank closing 1.05% and 2.60% higher, having announced that they expect 1H 2008 net profit to increase by 50% and 140% YOY respectively. Market movers Sinopec and PetroChina, the country's top two refiners, slid by more than 3% and 2% respectively.

Must Read News100%-120% Net Profit Increase Projected for 1H 2008

Friday, 04 July 2008

(600089) TEBIAN ELECTRIC APPARATUS STOCK CO.,LTDAccording to the 1Q 2008 Report, the company’s net profit for 1H 2008 was projected to increase by 50% YOY. Following an upward revision however, it...
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Must Read NewsCash Dividend of RMB 1.00 to be Paid

Friday, 04 July 2008

(600196) SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTDThe company plans to pay a cash dividend of RMB 1.00 (taxes included) for every 10 shares held, based upon 1,237,774,909 total shares...
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Must Read News85% Net Profit Increase Projected in 1H 2008

Friday, 04 July 2008

(600202) HARBIN AIR CONDITIONING CO., LTDAccording to the company's preliminary estimates, net profit for 1H 2008 is projected to increase by more than 85% when compared with the same period in 2007,...
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Must Read News100% Net Profit Increase Projected for 1H 2008

Thursday, 03 July 2008

600351 SHANXI YABAO PHARMACEUTICAL GROUP CO. LTD On 11 Jun 2008, the company announced that its net profit for 1H 2008 was projected to increase by more than 50% YOY.However, according to preliminary...
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Shanghai & Shenzhen Market Indexes

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Mining & Metals

Cash Dividend of RMB 1.30 to be Paid

(600808) MAANSHAN IRON & STEEL CO.,LTD

The company will pay a cash dividend of RMB 1.30 (taxes included) or RMB 1.17 (taxes excluded) for every 10 shares held, based upon 5,025,621,716 total shares outstanding as of the end of 2007. A

Banking & Finance

140% YOY Net Profit Increase Projected

(600000) SHANGHAI PUDONG DEVELOPMENT BANK CO.,LTD

According to the preliminary estimates of the company's finance department, the company's net profit for 1H 2008 is projected to increase by more than 140% YOY, when compared with the 1H 2007 net

Technology

Cash and Stock Dividends to be Paid

(000063) ZTE CORPORATION

The company plans to pay a cash dividend of RMB 2.50 (taxes included) and to allot a stock dividend of 4 shares from its capital reserve for every 10 shares held, based upon 959,521,650 total shares

Real Estate

UBS Downgrades Company to 'Neutral' Rating

(000002) CHINA VANKE CO., LTD

UBS stated that it will downgrade the company from a 'Buy' rating to a 'Neutral' rating due to the fact that the company's stock has cumulatively increased by 25% and it has outperformed 50% of the