Power Equipment Makers, Transmission and Distribution

[winston]

China Power Stocks Broadly Rally 2.6-5%; G Sachs Recommends Buying on Appealing Div Yield

Goldman Sachs recommends the accumulation of HUADIAN POWER (01071.HK), CHINA RES POWER (00836.HK) and CHINA POWER (02380.HK), saying that the dividend yield reached nearly 8%.

Power stocks broadly jumped 2.6-5% today.

HUADIAN POWER and CHINA RES POWER were the biggest gainers. HUADIAN POWER reclaimed 10-day and 20-day MA to peak at $4.02 and last printed at $3.99, up 5%. CHINA RES POWER recouped 10-day MA to the peak at $3.22 and last stood at $3.2, up 4.9%.

CHINA RES POWER snapped the five-day losing streak and bounced back from over three-month low to the peak at $11.96. The shares last stood at $11.94, rebounding 3.5%, becoming the best performing blue chip. In addition, HUANENG POWER (00902.HK) and DATANG POWER (00991.HK) reclaimed 10-day MA to peak at $5.22/ $2.03 and last traded at $5.16/ $2.02, up 2.6%/ 3.1%.

Source: AAStocks Financial News