Hongkong Electric Holdings Limited
HKG:0006 ISIN:HK0006000050
Hongkong Electric Holdings Limited (HEH) is the holding company of The Hongkong Electric Company, Limited (HEC), Hongkong Electric International Limited (HEI) and Associated Technical Services Limited (ATS). HEC is the main operating company of HEH. HEC is responsible for the generation, transmission and distribution of power to Hong Kong Island and Lamma Island. HEI has interests in several power related businesses in Australia, Thailand, Canada and United Kingdom. ATS is a wholly owned subsidiary of HEH engaged in engineering consultancy firm serving the electricity supply industry. During the year ended December 31, 2007, Unit 9, HEC’s gas-fired combined cycle unit generated 17% of the electricity sent out from the Lamma power Station. In May 2008, the Company acquired a 50% interest in Cheung Kong Infrastructure Holdings Ltd.'s subsidiary.
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Asian equity markets Friday experienced heavy losses after Wall Street's tumble and concerns over European sovereign debt. Japan's Nikkei index fell 2.9%. Hong Kong's Hang Seng Index lost 3.3%, its first finish below 20000 since September. South Korea's Kospi lost 3% to 1567.12, Taiwan's Taiex sank 4.3% and China's Shanghai Composite gave up 1.9%.
Asian markets opened broadly firmer today after the Wall Street rally boosted by the unexpectedly good housing data in the US. Japan's Nikkei share average rose above the psychologically key 8,000 level in early trade.
Asian markets opened higher today after Wall Street's gains. Yesterday Asia's major indexes closed broadly weaker on the further gloomy economic data of the US. Tokyo and Shanghai markets were slightly down while Hong Kong stocks gained 0.9% on hope of Chinese government's support to the mainland shares.
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