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China Metro Rural Holdings Ltd (AMEX:CNR) Surges to New High on No Official News by SGW

Posted by admin 779 days ago (http://emailwire.com)

(EMAILWIRE.COM, March 31, 2011 ) New York, NY -- China Metro Rural Holdings Ltd (AMEX:CNR) surged to a new annual high in its last trading session on no official news of accord. Now the stock is up 31.53% to $5.59.

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Yesterday, the company said that its policy is not to comment on unusual market activity, after NYSE Amex has contacted the Company in accordance with its usual practice to comment on the unusual market activity in the ordinary shares of the Company.

On Mar 8, CEO, Mr. Sam Sio of the company discussed the consolidation of the agricultural foundation with shareholders in National People's Congress Plenum that was held in Beijing. The National Development and Reform Commission (NDRC) have outlined in their Report on the Implementation of the 2010 Plan for National Economic and Social Development and on the 2011 Draft Plan for National Economic and Social Development (the Report) that the agricultural foundation was consolidated.

He also stated that, It is vital for me to explain in detail to the shareholders and investors about our China Governmental Policy, as most of our shareholders are on the other side of the Pacific. It is important for us to inform them of the China fiscal and monetary policies which may have deep impacts in their investments. The 4th Plenary Session of the 11th National People's Congress has opened on March 5 and will conclude on March 14. The meeting is expected to approve the country's 12th Five Year Plan.

So far this month & in the past 6 month, the stock went up by 29.97% & 118.36% respectively. In the last 5 day trading sessions, the stock jumped 33.06%. On a technical basis, the stock is trading above its 50-Day Moving Average and 200-Day Moving Average of $4.23 and $3.31 respectively. It has a 52-week range of $1.25-$5.59. The market capitalization of the stock stands at $358.46 million.

China Metro-Rural Holdings Limited (China Metro), formerly Man Sang International (B.V.I.) Limited, through its agricultural logistics business subsidiary, China Northeast, is a developer and operator of integrated agricultural logistics and trade centers called China Northeast Logistics City in Tieling City, Liaoning Province, the People's Republic of China.

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