Bicycle gets a push

PUBLISHED : Wednesday, 22 June, 1994, 12:00am
UPDATED : Wednesday, 22 June, 1994, 12:00am

Shenzhen B shares closed mixed in light trading yesterday, with just seven stocks recording transactions.

The Credit Lyonnais Shenzhen B Index rose fractionally to 1,089.32, Bloomberg reported. The A-share index lost 12.12 points, or 1.24 per cent, to close at 965.13.

China Bicycle rose three HK cents to $6.18. The mountain bike manufacturer exports about 30 per cent of its output to the US, where sales are expected to grow strongly this year.

China Southern Glass rose eight cents to $6.10, but the move could be meaningless because only 4,000 shares were traded.

The Shenzhen exchange has launched a publicity campaign to try to revive flagging interest in its B-share markets, including plans to list several more companies in the next few weeks.

They include Jiangling Motors, cargo transport company Shekou Anda Industry, ribbon-maker Shenzhen Textile, the Guangdong Electric Power Plant, and air-conditioner manufacturer Meidi.