Huaneng dips close to daily limit

The share price of Huaneng Power International came within a hair's breath of its daily limit on the Shanghai Stock Exchange, after announcing a third-quarter loss of 2.16 billion yuan.

The company, one of the country's largest listed power producers, suffered the huge loss due to rising coal prices and the government's electricity price caps.

The company said in its third-quarter report that it may post a full-year loss due to higher coal costs, which offset gains from rising electricity prices. The Beijing-based utility made a profit of 1.56 billion yuan a year ago.