Coal stocks leapt on Thursday after UBS said in a research report that China coal prices were likely to keep rising in the short term....MORE
From Interfax China:
Xinjiang aiming to produce 1 bln tons of coal annually by 2020
China's Xinjiang Uygur Autonomous Region aims to produce over 1 billion tons of coal by 2020 and account for 20 percent of the country's annual coal output through a new development plan for the region, state media reported late last week.
Asian stocks gain led by shipping & energy cos
Asian stocks gained on Thursday, paced by shipping and energy companies, after rise in cargo rates and crude oil prices.
Mitsui OSK Lines and Hanjin Shipping, led the gains among shipping companies after rise in cargo rates.
China Shenhua Energy surged after UBS and Deutsche Bank, increased the price forecasts of the world`s second-largest coal seller.
Woodside, Australia`s second-biggest oil producer, PetroChina, China`s biggest oil explorer, and Cnooc, China`s largest off-shore oil producer, gained after crude oil prices rose above USD 81.
FTSE Xinhua Index Promptly Adds China Shenhua Energy to a Share Index Series
FTSE Xinhua Index (FXI), the independent China index company, announced today that it would incorporate China Shenhua Energy (A Share: 601088), in its suite of A share indices, following its IPO on Shanghai Stock Exchange on 9th October. The inclusionwill take effect when China markets open on October 22, 2007. China ShenhuaEnergy is the largest coal miner in China. Press Release
Finally, from Forbes via AFP and SinoDaily:
26-year-old woman is China's richest person: Forbes
A 26-year-old female property developer tops this year's Forbes list of the richest people in China, grabbing the number one spot with a net worth of 16 billion dollars, the US magazine said Monday.
That amount also makes Yang Huiyan the richest woman in Asia, according to a statement from Forbes.
All 40 people on Forbes Asia's 2007 China Rich List are billionaires, compared with only 15 last year, it said, attributing the rise to a boom in the nation's stock and property markets....MORE