Shanghai sold a residential plot of land at a record price amid rising competition among developers for sites in cities with fast price gains as some local governments tighten property curbs.
Lai Xiaomin, chairman of China Huarong Asset Management Co., found his schedule packed one morning this year with back-to-back meetings with visitors from Goldman Sachs Group Inc. and Morgan Stanley.
Kangmei Pharmaceutical Co. paced declines by Chinese drugmakers after the Economic Observer reported the government may cut medicine prices by 40 percent.
Sinosteel Corp., China’s biggest iron-ore trader, agreed to buy future production of the steelmaking ingredient from Brockman Resources Ltd., extending its links with Australia.
Chinese stocks fell to a three-month low as health-care companies slumped and shares of smaller companies dropped on speculation financing costs will increase.
China’s stocks fell, dragging the Shanghai Composite Index lower for a second day, on speculation tighter monetary policies to counter inflation will slow the country’s economic growth.
Shares of the following companies had unusual moves in China trading . Stock symbols are in parentheses and prices are as of the 3 p.m. close.
Chinese health-care shares rose the most in two weeks on speculation medicine demand will increase after two women died from the H1N1 flu strain in Beijing and the government set targets for growth in the biomedical industry.
"Health-care earnings are much lower than expected, leading to the sector's sell-off today."
- Li Ying on Oct 30, 2013