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China Stocks Rise to 8-Week High: Baozun (BZUN), China BAK Battery (CBAK), China Biologic Products (CBPO), ChinaCache (CCIH), Bona Film (BONA)

Chinese stocks rose to an eight-week high as a government plan to reorder the telecom industry raised speculation policy makers will accelerate reforms of state-owned companies to stem slowing economic growth.

The Shanghai Composite Index climbed 2.3 percent to 3,338.07 at the close, the highest level since Aug. 21. China United Network Communications Ltd. and China Mobile Ltd. gained at least 2.7 percent after the government injected 231.4 billion yuan ($36 billion) of network assets such as base stations into a latest company called China Tower Corp.

There is “speculation regarding another wave of SOE reform,” said Gerry Alfonso, a sales trader at Shenwan Hongyuan Group Co. in Shanghai. “The economy is slowing down and a clear, but challenging, way of supporting the economy would be to speed up SOE reform. SOE reform remains one of the most solid investment themes.”

The CSI 300 Index gained 2.4 percent. Hong Kong’s Hang Seng China Enterprises Index advanced 2.1 percent, while the Hang Seng Index added 2 percent.

 

Bona Film Group Ltd (ADR) (NASDAQ:BONA) operates as an integrated film company in the People’s Republic of China and internationally. Bona Film Group Ltd (ADR) shares are trading 115.79% above their 52 week low price after the last close and -7.38% below the 52 week high. Its latest closing price was above 23.46% from the average-price of 200 days while it kept its distance from the SMA50 at 4.19% and 2.29% compared with the SMA 20.

Shares of Baozun Inc (ADR) (NASDAQ:BZUN) were 35.50% off 52 week lows as of the latest close and -63.30% below the 52 week high. Its latest closing price was down -32.24% from the average-price of 200 days while it maintained a distance from the SMA 50 at -7.47% and 3.70% compared with the SMA 20. Baozun Inc provides e-commerce solutions for brand partners in the People’s Republic of China. It offers end-to-end e-commerce solutions.

China BAK Battery Inc. (NASDAQ:CBAK)  together with its subsidiaries, focuses on developing, manufacturing, and selling energy high power lithium batteries in China and internationally. The stock’s latest price traded at 94.63% off 52 week lows after the closing bell and was -40.45% behind its 52 week high. Its latest closing price was 1.84% above the SMA200 while the distance from the SMA 50 and SMA 20 was 23.95% and 13.61% respectively.

China Biologic Products Inc (NASDAQ:CBPO) is trading 111.73% higher than the 52 week low price and -21.88% below the 52 week high. The stock’s latest closing price was 5.33% up from the average-price of 200 days while it kept its distance from the SMA50 at 1.01% and 9.36% compared with the SMA 20. China Biologic Products Inc engages in the research, development, manufacture, and sale of human plasma-based biopharmaceutical products to hospitals and inoculation centers in the People’s Republic of China.

ChinaCache Internatnl Hldgs Ltd (ADR) (NASDAQ:CCIH) through its subsidiaries, provides content and application delivery services in the People’s Republic of China.  ChinaCache Internatnl Hldgs Ltd (ADR) so far this year has moved down -18.93% and its monthly performance stands at 0.68%.The stock was up 58.85%from its 52 week low and was -52.52% below the 52 week high. Its latest closing price was up -29.66%from the average-price of 200 days while it kept its distance from the SMA50 at -6.86% and -3.19%compared with the SMA 20.