China Gas sinks to lowest in over 7 mths, probes pipeline blast

China Gas Holdings

16/06/2021 06:10

** Shares of China Gas Holdings  0384.HK  fall as much as
4.3% to HK$24.20 in resumed trade, the lowest since Nov. 4
    ** Co says it is investigating a gas pipeline explosion over
the weekend that grabbed the nation's attention
    ** Stock, which plunged nearly 16% prior to the trading halt
on Tuesday, rebounds later and last up 1.4%; among the 30 most
actively traded by turnover 
    ** The gas pipeline infrastructure facilities operator said
on Wednesday it was investigating the cause of the explosion in
central China and results were so far uncertain  urn:newsml:reuters.com:*:nL2N2NX31T
    ** The blast, which occurred on Sunday in Hubei province,
reportedly killed 25 people and injured more than 100, according
to reports by state broadcaster CCTV as of Monday  urn:newsml:reuters.com:*:nL3N2NW1R0
    ** China Gas said the operation right for piped gas in that
area was originally owned by a gas company under Dongfeng Motor
Corp, which in 2015 contributed the gas pipeline network while a
China Gas unit contributed cash to jointly establish Shiyan
Dongfeng, the unit in question
    ** Dongfeng Motor Corp is the parent of HK-listed Dongfeng
Motor Group Co  0489.HK , which its shares fall 4.6% to the
lowest since May 13
    ** The Hong Kong composite Industry Index tracking energy
stocks  .HSCIE  climbs 0.9%
    ** The Hang Seng China enterprises index  .HSCE  eases 0.6%,
and the benchmark index  .HSI  slips 0.2%


 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)