China begins mega dam construction in Tibet
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SHANGHAI (Reuters) -China stocks closed at an eight-month high on Tuesday, while Hong Kong shares extended gains to a multi-year peak, driven by construction and power firms after work began on a major dam project in Tibet,
The investment is set to benefit hydropower plant and grid equipment makers, but some analysts warn that market enthusiasm may wane soon.
Chinese authorities have removed a former leader of Tibet from office over alleged crimes including taking bribes and engaging in "superstitious activities", the country's top anti-corruption bodies said Tuesday.
China has broken ground on what it says will be the world's largest hydropower project, a $170 billion feat capable of generating enough electricity each year to power Britain.
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