Coal Stocks Among the Greatest Gainers as Government Guidance Goads the Sector to Restructure(Yicai Global) Sept. 12 -- Coal stocks were among the best performers in morning trading after the Chinese government expressed its encouragement of industry restructuring.
Shaanxi Heimao Coking Co. [SHA:601015], raise limit-up (10 percent), scaled to USD2.02 (CNY13.15), China Shenhua Energy Co. [SHA:601088] gained 2.74 percent to CNY21.41, Shanxi Coking Co. [SHA:600740] increased 5.85 percent to CNY12.48.
The State Council issued guidelines yesterday urging coal companies to restructure or merge their shareholding with upstream and downstream enterprises, and said it will raise the proportion of advanced coal production capacity in total coal production capacity to two-thirds by 2020.
