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Shares of Qingdao Haier Co. (1169.HK), the world's 4th largest white-goods manufacturer, surged for the second day in a row, thanks to a domestic demand boosting plan announced by the Chinese government.
According to a statement on the ministry's Web site, household appliances will be sold at a subsidized rate to farmers.
The 13 percent discount scheme will initially cover 14 provinces and gradually be expanded to all regions from January 1 next year. Three quarter of China's population live in rural areas.
Shares of Haier closed up 11.54 percent to HK$0.87 on Tuesday, after hitting the intraday high of HK$0.96. Last Friday, it closed up HK$0.50.
Meanwhile, PC maker Lenovo dipped 1.59 percent today as only TV sets, refrigerators, washing machines and mobile phones are involved in the plan.
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