Power stocks power up on 'smart' grid news

SHANGHAI: A statement from State Grid Corp, projecting hefty investment to upgrade its existing power network, has touched off a near frantic rush for stocks in the power generating equipment sector on the Shanghai bourse.

Latest figures from financial data provider Wind Info showed that power equipment companies' stocks rose a combined 6 percent in the first three trading days of this week, compared to the 1.36 percent rise of the Shanghai Composite Index.

Chinese stock markets were closed yesterday and today for the Dragon Boat Holiday.