18 September 2018

StanChart tips bad year for China utilities, SCMP says

Standard Chartered Plc. (02888.HK) said China’s utilities firms could be the worst-performing constituents of domestic stock market indices next year amid rising coal prices and potential tariff cuts, South China Morning Post reported Wednesday. Profits in the mainland utility sector are forecast to slump by 30 percent next year, Erwin Sanft, head of China and Hong Kong equity research at the bank, was quoted as saying.

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