China tallies losses, costs from quake

The company's Hong Kong traded shares fell 14.3 percent Friday to 25.70 Hong Kong dollars, but trading in its Shanghai-listed shares was suspended pending a board meeting, Dongfang said.

Zinc and fertilizer producer Sichuan Hongda Co. said Friday its businesses were "severely hit." It said 31 employees were dead.

Chemicals maker Sichuan Jinlu Group warned it expected more than 90 million yuan ($12.9 million) in direct economic losses, and saw its share price plunge by the daily 10 percent limit, to 5.85 yuan.

Power generator Sichuan Chuantou Energy Stock also saw its share price plunge by 10 percent, to 26.45 yuan, after it said one of its subsidiaries was severely damaged by the quake.

Trading in Sichuan Minjiang Hydropower, another small power company based near the quake's epicenter, remained suspended pending a report on the quake's impact.

Insurance companies so far have paid out nominal amounts but AIR Worldwide, a consultant and risk assessor for the industry, put insured losses at up to $1 billion. Uninsured losses are expected to be greater than 20 times that amount.

In Wenchuan county, location of the quake's epicenter, China Life Insurance Co., the country's biggest life insurer, had more than 110,000 life insurance policies, according to a report by Fitch Ratings.

"In addition to commercial property and business interruption claims, payouts on life insurance policies are also expected to be sizable," Fitch said.

The impact of the disaster on China's financial markets has been limited. China's mainland bourses temporarily suspended trading in shares of companies based in the quake region, and brokers said that the securities regulator sought to discourage heavy disaster-related selling.

Still Chinese share prices edged lower Friday on the selling of regional power, cement and steel companies.