China Resources sales exceed guidance

China Resources Cement said its cement and clinker sales prices have exceeded expectations this year, meaning that first half profit "is expected to be significantly increased as compared with the corresponding period in 2013," the company says.

 "The strong cement price in off season (2Q14) is suggesting better and demand balance in southern China," says Guotai Junan Securities. "We believe cement price might pick up in 4Q14 and recent sell-off makes CR Cement more attractive."