Report of China rail section collapse jolts shares | CHINA US Focus

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Report of China rail section collapse jolts shares

Elaine Kurtenbach, Associated Press
March 12, 2012
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Part of a high-speed railway line that had already undergone test runs collapsed in central China following heavy rains, state media reported Monday, jolting railroad shares and reviving worries over safety.
 
The official Xinhua News Agency and other reports said a 300-meter (984 feet) section of the railway line had collapsed, but mentioned no casualties or other details. It said hundreds of workers were rushing to repair the line between the Yangtze River cities of Wuhan and Yichang.
 
The reports of the accident Friday near Qianjiang city in Hubei province, the latest since a bullet-train crash last summer that killed 40 people, rattled share markets in Hong Kong and Shanghai, where major railway company stocks dropped on the news.
 
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