Most of the Hong Kong utilities industry rose, as of press time, CKI Holdings (01038) up 3.10%, at HKD 54.80; Power Assets (00006) up 3%, at HKD 53.30; CLP Holdings (00002) up 1.85%, at HKD 68.70; HK & China Gas (00003) up 0.93%, at HKD 6.48.
According to the WiseNews app, most Hong Kong utilities industry rose, as of press time, CKI Holdings (01038) up 3.10%, at HKD 54.80; Power Assets (00006) up 3%, at HKD 53.30; CLP Holdings (00002) up 1.85%, at HKD 68.70; HK & China Gas (00003) up 0.93%, at HKD 6.48.
Daiwa released a research report stating that the performance of the Hong Kong and mainland utilities industry in the first half of the year is not surprising, but the overall industry seems to benefit from global recession risk and the reversal of Asia-Pacific interest rate trading. Daiwa expects that Hong Kong utilities industry will continue to outperform the market in the rest of the third quarter of 2024 when the risk of US and global economic recession emerges and the reversal of Asia-Pacific interest rate trading occurs, making Hong Kong utilities industry a safe haven for investors.
JPMorgan released a research report stating that market volatility, the Fed's interest rate cut and improved profit prospects have turned the bank's view on Hong Kong utilities industry positive since June. CLP Holdings stated that if profit continues to improve, the company will consider raising dividends, and HK & China Gas also raised the possibility. Therefore, the bank maintains a positive view on the utilities industry.