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Investors resist pull of Chinese rare earth magnet maker JL Mag

Despite link with EV makers, shares slide 17% in Hong Kong debut

JL Mag produces magnets from neodymium and other rare earth metals.     © AP
KENJI KAWASE, Nikkei Asia chief business news correspondent | China

HONG KONG -- A major Chinese manufacturer of rare earth magnets for electric vehicles, wind power generators and energy-efficient air conditioners made an underwhelming debut on the Hong Kong stock market on Friday despite being a key player in a red-hot sector.

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