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Stock market movement | SHOUGANG RES (00639) falls over 5% again, the Coal-Steel-Coke Industry Chain is not showing signs of improvement, and coking coal is expected to enter a phase of supply contraction.
SHOUGANG RES (00639) has fallen over 5% again, as of the time of writing, it has decreased by 4.96%, trading at 2.3 Hong Kong dollars, with a transaction amount of 25.3619 million Hong Kong dollars.
Quick Look at the Hong Kong Market | The three major Indices have mixed movements, stocks in Biotechnology and Communication Equipment are rising, ZTE soared by 10%, and BEIGENE increased by over 5%.
Network Technology stocks fell, XIAOMI-W rose by 2.90%, NTES-S rose by 2.19%; most Coal Industrial Concept stocks declined, China Shenhua Energy fell by 3.18%, China Coal Energy fell by 1.69%; most Shipping and Ports stocks decreased, COSCO Shipping Holdings fell by 4.75%, OOIL fell by 3.14%;
Hong Kong market quick look | Hong Kong stocks narrowed in losses in the afternoon, the Hang Seng Index fell nearly 1%; tech and Apple Supplier stocks declined, SUNNY OPTICAL dropped over 7%, Xiaomi fell nearly 4%; Weichai Power surged over 11%.
Network Technology stocks weakened, XIAOMI-W fell 3.95%, NTES-S rose 2.98%; Coal Industrial Concept stocks weakened, YANKUANG ENERGY fell 4.73%, KINETIC DEV fell 3.94%; Many Mobile Game stocks declined, INFINITIES TECH rose 10.00%, BOYAA fell 8.88%;
Hong Kong stocks moving differently | Coal Industrial Concept(coal Industry) stocks fell in early trading, with many stocks dropping more than 3%. Institutions stated that the recent sharp decline in Thermal Coal prices exceeded market expectations.
Coal Industrial Concept(coal Industry) stocks fell in the early session. At the time of reporting, China Shenhua Energy (01088) dropped 2.63% to 31.5 Hong Kong dollars; YANKUANG ENERGY (01171) fell 2.54% to 8.45 Hong Kong dollars; SHOUGANG RES (00639) decreased by 2.05% to 2.4 Hong Kong dollars; MONGOL MINING (00975) declined 1.41% to 6.98 Hong Kong dollars.
High-dividend Coal Industrial Concept(coal Industry) stocks will be the "stable happiness" in 2024. The trend of Thermal Coal next year may fluctuate in a narrow range | 2025 outlook.
① The Coal Sector is expected to perform brilliantly in 2024, humorously referred to as the "most profitable track in A-shares"; ② Industry insiders anticipate that Thermal Coal prices will fluctuate within the Range next year.
Market quick glance | The three major Indices showed mixed results, with the tech index slightly rising, Xiaomi and Tencent increasing nearly 3%; Semiconductors stocks were strong, with Semiconductor Manufacturing International Corporation rising over 8%;
Network Technology stocks performed poorly, KUAISHOU-W fell by 5.42%, Alibaba-W dropped by 3.44%; most Coal Industrial Concept stocks declined, SOUTHGOBI fell by 12.02%, China Coal Energy dropped by 6.37%; many Hong Kong Retail Stocks fell, PRADA decreased by 3.80%, BOSSINI INT'L dropped by 3.48%;
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