HK Movers | Coal Stocks Rally as China Orders Suspension of Overcapacity Mines

Tiger Newspress

07/22

Coal stocks in Hong Kong surged in afternoon trading. Mongolian Mining soared 21%, Southgobi Resources jumped 15%, Yankuang Energy gained 8%, and China Coal Energy rose 7%.

The rally came after China’s National Energy Administration issued a notice ordering coal mines operating beyond approved capacity to suspend production and undergo rectification.

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