The winners and losers in Asian markets from energy crunch
(Sept 29): The global spike in energy prices and China’s power shortage is creating more losers than winners in Asian equities. At least 20 provinces and regions making up more than two-thirds of China’s gross domestic product have announced some form of power cuts. The reasons are two-fold: record high coal prices coupled with a fuel shortage has curbed power generation, while some areas have proactively halted electricity flows to meet emissions and energy intensity goals.
Source: theedgemarkets.com