Power stocks boost mainland equities
China Daily | Updated: 2009-11-19 08:07
Chinese stocks rose, driving the benchmark index to its highest in more than three months, as energy producers and utilities advanced after snowstorms boosted demand for power. Real estate developers declined.
China Shenhua Energy Co, the nation's top coal producer, added 1.5 percent to 37.99 yuan and Shanghai Electric Power Co, which supplies the commercial hub, rose 6.7 percent to 6.25 yuan as some areas of the country experienced the heaviest snowfall in a century.
China Petroleum & Chemical Corp climbed 3.3 percent to 12.72 yuan and PetroChina Co gained 1.2 percent to 14.01 yuan on speculation the government may speed up plans to reform natural gas pricing.
Photo