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China Railway, China Railway Construction fall amid forex losses

Wed Oct 22, 2008 10:02pm EDT

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HONG KONG, Oct 23 (Reuters) - Shares of China Railway Group (0390.HK) and China Railway Construction Corp (1186.HK) fell on Thursday after they reported foreign exchange losses.

China

China Railway Group shed 14.2 percent at HK$3.51 after the biggest railway and construction builder on the mainland disclosed 1.9 billion yuan ($278 million) in foreign exchange losses for the first nine months of 2008. [ID:nHKG26975]

The shares plunged more than 20 percent on Wednesday on concerns about exchange losses.

China Railway Construction shares fell 11.1 percent to HK$7.2 after the company reported a 320 million yuan foreign exchange loss for the third quarter. The shares were down about 19 percent on Wednesday. (US$1=HK$7.8=6.834 yuan) (Reporting by Donny Kwok; Editing by Ken Wills)

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