Asia drives GWI index to new high

摘要

Asian water stocks were the star performers this month, occupying eight out of the ten places in the best performers' table, and sending the Asian segment of the GWI Global Water Index to its highest level since April 2019. The share price of Japanese water chemicals supplier Kurita Water hit an all-time high, while stocks including concessionaire China Water Affairs Group were marked up after the Chinese government announced new mechanisms for the administration of urban water tariffs, which was widely interpreted as a precursor to a nationwide price increase in the near term. Among the larger cities to make a move in this regard was Shanghai, which set up a public hearing on 31 August outlining a plan to increase its first block tariff by around 18%.