China Automotive Systems Soaring 16% On Heavy Volume

China Automotive Systems, Inc. CAAS shares are soaring on heavy volume this afternoon, despite the lack of news on the stock. At last check, shares of China Automotive Systems were up 99 cents to $8.50, a gain of 13.2% on 275,000 shares. The average daily volume is just over 300,000 shares. China Automotive Systems, Inc., through its interests in Sino-foreign joint ventures, engages in the manufacture and sale of power steering systems and other component parts for the automotive industry in the People’s Republic of China.