Shares of Chinese electricity power companies stage a strong rally as several regions in northern and eastern China report record high temperature amid widespread heatwaves.
Several companies including Guangxi Energy, Shenzhen Nanshan Power, Henan Yuneng Holdings, Anhui Wenergy, Beijing Jingneng Power surging by the daily limit of 10%.
China’s capital Beijing topped 40 degrees Celsius (104F) on Saturday for a record third day. At 1:51 p.m. on the day, the temperature measured by Beijing’s benchmark weather station in its southern suburbs briefly soared above 40C.
Until Saturday, the city had never logged three straight days above 40C since setting up the southern observatory in 1951.
In addition, parts of nearby Hebei, Henan, Shandong, Inner Mongolia and Tianjin either raised or kept their hot weather alert at “red”, the highest in China’s four-tier warning system.
