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End of L.A.-Vegas high-speed train hits China rail shares

HONG KONG -- Privately held U.S. company XpressWest said Wednesday it will terminate a joint venture with a consortium led by China's state-owned China Railway that was planning to build a high-speed rail line between Las Vegas and Los Angeles.

Construction had been scheduled to start as early as September. The announcement sent shares of Chinese railway operators skidding in Hong Kong on Friday, including CRRC, the country's largest manufacturer of train cars. The stock ended down 4.45%.

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