China Bicycle climbs

PUBLISHED : Saturday, 20 August, 1994, 12:00am
UPDATED : Saturday, 20 August, 1994, 12:00am
 

SHENZHEN B shares closed mixed in light trading with the Credit Lyonnais Shenzhen B Index rising 0.3 per cent to 1,167.17 points on turnover worth just HK$4.63 million.


Five stocks fell, three rose and 15 were unchanged or not traded, Bloomberg reported.


China Bicycle dominated trading, rising 0.8 per cent to $6.50 on turnover worth $2.06 million.


The mountain bike maker differs from the two Shanghai bicycle makers in that its products are primarily for export.


''Bike sales are going well overseas and foreign investors have taken a liking to the stock,'' said Samson Chau, a trader at Peregrine Brokerage.


The same can be said of China Southern Glass which processes glass and exports many of its finished products.


Southern Glass rose 0.6 per cent to $8.50.


Real estate, trading and catering group Shenzhen Zhongchu fell 4.5 per cent after posting disappointing first half earnings.


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