HK's IDG Energy hits 4-week high on natgas JV with Foxconn

Productive Technologies

26/09/2018 04:17

** Shares of IDG Energy Investment  0650.HK  jump as much as
10.2 pct to HK$1.19, their highest since Aug 30
    ** Stock rises after the natural gas resources firm teams up
with Foxconn to tap China's natgas market
    ** Stock marks highest intraday pct gain since May 23
    ** IDG Energy teams up with JUSDA Supply Chain Management
International Co Ltd to set up a Shanghai-based joint venture
focusing on liquefied natural gas logistics services with
investment of up to 500 mln yuan ($72.77 million)  urn:newsml:reuters.com:*:nFWN1WB09G
    ** JUSDA is a service platform of supply chain management
for Foxconn Technology Group  2354.TW 
    ** It focuses on investment opportunities arising from
China's increasing demand for imported nature gas and the
emerging North America LNG export market amid abundant low-cost
shale gas supply - IDG Energy
    ** As of last close, stock down 23.9 pct so far this year
    ** The Hong Kong benchmark index  .HSI  rises up to 1.4 pct

($1 = 6.8705 Chinese yuan)

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