Midas/China Railway: China has currently delayed the building of more than 80% of its railway projects, and the completion of the projects have been postponed by a yr, as industry players await more clarity on govt's policies on high-speed rail, while almost all banks have temporarily stopped lending for railway construction
China Railway Group and China Railway Construction, the country's two largest railway contractors, have been forced to suspend projects after the Ministry of Railways delayed payments. We note that above news could put a temporary cap on any upside on Midas. Technically see support at $0.325 (2009 lows).
No comments:
Post a Comment