BEIJING (XFN-ASIA) - Chinese aerospace companies were sharply higher in early trade after their controlling shareholders announced that they will refrain from immediate sales of shares coming out of lockup, dealers said.
The controlling shareholders of five companies all have promised to extend the holding period for shares coming out of lockup for two years.
At 9:45 am, Hafei Aviation Industry (SHA 600038) rose 5.35 pct to 16.15 yuan and Jiangxi Hongdu Aviation Industry (SHA 600316) gained 3.16 pct to 16.65 yuan. Shaanxi Aerospace Power Hi-Tec (SHA 600343) was up 7.20 pct to 12.80.
Guizhou Guihang Automotive Components (SHA 600523) added 4.77 pct to 11.21 yuan, while Shenzhen Nan-Guang (SZA 000043) jumped by the 10 pct daily limit to 9.93 yuan.
(1 usd= 6.8 yuan)
allen.shu@xfn.com - xfnals/xfntm COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
