Zhuzhou CRRC's HK shares jump on investment in NEV-related projects

Zhuzhou CRRC Times Electric

23/09/2022 04:20

** Hong Kong shares of rail transit equipment products maker
Zhuzhou CRRC Times Electric Co Ltd  3898.HK  jump as much as
9.5% to HK$38.15, their biggest daily pct rise since Aug. 5 
    ** Stock on track for a second session of gain
    ** Co proposes to invest through its unit CRRC Times
Semiconductor a total 11.12 bln yuan ($1.57 bln) in Medium and
Low Voltage Power Devices Industrialisation Construction
Projects in China's Jiangsu and Hunan province  urn:newsml:reuters.com:*:nFWN30S22U
    ** Says products of the project will be used in the field of
new energy vehicles (NEV), and the project will be financed by
the self-owned and self-raised funds of CRRC Times Semiconductor
    ** Company's Shanghai-listed stock  688187.SS  rise 3.5%
    ** The Hang Seng Commerce & Industry Index  .HSNC  falls
1.2% and the Hang Seng Composite Index tracking industrials
 .HSCIIG  drops 1.6%
    ** The Hang Seng Composite Index  .HSCI  eases 0.8% and the
Hang Seng Index  .HSI  slips 0.6%
    ** As of last close, the Hong Kong stock had fallen 22.8%
this year
($1 = 7.0938 Chinese yuan renminbi)
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))