Hong Kong stocks closed (03.07) | The Hang Seng Index fell by 0.57%, Technology stocks generally declined, while sportswear stocks performed strongly.

Hong Kong stocks opened lower this morning but rose in the afternoon, with all three major Indexes at one point increasing by more than 1%, before quickly retreating and turning negative.

Zhitong FinanceMar 7 16:44

[Brokerage Focus] HTSC indicates that the Steel Industry may enter a new round of supply-side optimization cycle in 2025.

Jingwu Financial News | HTSC stated that after 2005, the oversupply in China's Steel Industry became normalized, during which the supply and demand policies positively impacted the improvement of industry profits, but the effects of supply-side optimization policies were even better. From 2022 to 2024, the Steel Industry sees a downturn for three consecutive years, the same duration as the downturn cycle from 2013 to 2015 (followed by the start of the steel supply-side reform in 2016); in 2024, the domestic crude steel apparent demand is 0.894 billion tons, with an oversupply of 0.113 billion tons, indicating a level of oversupply comparable to 2015 (with an oversupply of 0.103 billion tons); in 2024, the number of losses in the Steel Industry will also increase.

Jinwu Financial NewsMar 5 08:55

Angang Steel Completes 26.5 Million Yuan Buyback Program

MT NewswiresMar 4 16:52

Angang Steel (00347) has completed the repurchase and cancellation of a total of 14.18 million restricted stock A-shares.

Angang Steel (00347) announced that the company's performance assessment for the third lifting of the sales restriction period did not meet the standards, and the company...

Zhitong FinanceMar 3 20:01

Hong Kong stocks moved differently丨Steel stocks rose, Angang Steel increased by more than 7%, Maanshan Steel rose by more than 6%.

On March 3, Zhuge Stock reported that Hong Kong's steel stocks collectively rose, including CHINAVTM MINING up by 9.6%, Angang Steel up over 7%, Maanshan Iron & Steel up over 6%, Chongqing Iron & Steel up 5.6%, and CHINA ORIENTAL up 2.5%. In terms of news, the Ministry of Industry and Information Technology previously released a new version of the "Steel Industry Normative Conditions (2025 Edition)". Meanwhile, Zhonghui Futures commented on the recent rumors of production cuts, stating that production reduction will help steel companies further transform and upgrade. Donghai Futures expects that once the policy is implemented, the most direct impact will be a phased expansion of industry profits, but the path of expansion may differ from before, and the extent of expansion may be lower than before.

Gelonghui FinanceMar 3 11:17

Hong Kong stocks are moving | Steel stocks continue their recent strength. The Ministry of Industry and Information Technology previously released a new version of the Steel Industry standard conditions. The market expects that industry production limits

Steel stocks continue their recent strength. As of the time of publication, CHINAVTM MINING (00893) is up 9.62%, trading at 0.057 Hong Kong dollars; Maanshan Iron & Steel (00323) is up 7.85%, trading at 2.06 Hong Kong dollars; Angang Steel (00347) is up 7.02%, trading at 1.83 Hong Kong dollars; CHONGQING IRON (01053) is up 6.74%, trading at 0.95 Hong Kong dollars.

Zhitong FinanceMar 3 10:54