Hong Kong, China shares rise, rare earth stocks outperform

March 14, 2012 (Excerpt Source: Reuters) –RARE EARTH ROW BOOSTS METALS STOCKS

Also strong were rare earths suppliers, with China seen unlikely to back down after the United States, Europe and Japan joined forces to challenge its restrictions on exports of rare-earth metals, escalating a trade row over access to some of the most important raw materials used in advanced technologies.

Jiangsu-based China Rare Earth Holdings Ltd jumped 13 percent in midday volume, more than five times its 30-day average, to hit its highest since July last year.

In Shanghai, Inner Mongolia Baotou Rare-Earth (Group) Co Ltd rose 3.2 percent, with turnover in the broader Shanghai market hitting its highest at midday since November 3.

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Strength in the sector also cheered other growth-sensitive metal stocks. Inner Mongolia Baotou Steel Union Co Ltd jumped the maximum 10 percent in Shanghai, while Angang Steel gained 5.6 percent in Hong Kong.

 


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Asher Berube

About Asher Berube

Asher Berube has nearly half a dozen years of professional experience in the online media sector. He started with InvestorIntel in 2011 as the online content manager and now he provides regular posts and commentary as both a contributing writer and editor.

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