More Chinese shares fall as power curbs dent operations
28/09/2021 03:07
** Shares of more Chinese companies fall as they announce
ops have been hit by widening power curbs in the country
** Kingenta Ecological Engineering Group Co Ltd 002470.SZ ,
Hefei Fengle Seed Co Ltd 000713.SZ , ZYF Lopsking Aluminum Co
Ltd 002333.SZ and Jiangsu Huachang Chemical Co Ltd 002274.SZ
fall 1%-4%
** So far, at least 19 Chinese cos have said in exchange
filings that production had been disrupted by power curbs
** More than 30 Taiwan-listed firms with China operations
had stopped work to comply with the power limits
** A shortage of coal supplies, toughening emissions
standards and surging coal prices due to strong demand from
manufacturers have led to the power crunch urn:newsml:reuters.com:*:nL1N2QT0MR
** Analysts have said the situation has hurt production in
industries across several regions of China and is dragging on
the country's economic growth outlook
** On Monday, China's State Grid Corp pledged to ensure
basic power supply and avoid electricity cuts
(Shanghai Newsroom)
((Jason.Xue@thomsonreuters.com))