China Architectural Engineering rises 27% despite no announcement
China Architectural Engineering, Inc. (AMEX:RCH) shares are rising 27% in unusually heavy volume despite no official news from the design and construction firm. In midday action, 4.7 million shares have been traded compared with an average of 0.4 million shares. Investors posting on Internet message boards speculate that building services will be in high demand after a deadly earthquake damaged China’s southwest region. China said early Thursday morning that the death toll from the quake could top 50,000.
Another China-based firm, pharmaceutical products maker China Shenghuo Pharmaceutical Holdings (AMEX:KUN), is also surging on heavier-than-normal volume.
In midday Thursday trading, RCH shares are rising 27%, or $2.23, at $10.49. For detailed price information and recent news stories about China Architectural Engineering, click RCH.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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