Heavy machinery stocks rose. As of press release, Zhonglian Heavy Industries (01157) rose 3.96% to HK$5.51; Sany International (00631) rose 3.73% to HK$5.28; China Longgong (03339) rose 1.34% to HK$1.51; and Yituo shares (00038) rose 1.3% to HK$7.03.
The Zhitong Finance App learned that heavy machinery stocks were higher. As of press release, Zhonglian Heavy Industries (01157) rose 3.96% to HK$5.51; Sany International (00631) rose 3.73% to HK$5.28; China Longgong (03339) rose 1.34% to HK$1.51; and Yituo shares (00038) rose 1.3% to HK$7.03.
According to the news, according to market reports, domestic sales of excavators increased by nearly 20% year on year in September, and domestic sales achieved positive double-digit growth for six consecutive months, but the export sales data was “slightly cold in late autumn,” and sales in September were only basically the same year on year. Some people in the construction machinery industry chain said that domestic earthmoving machinery demand showed a bottoming out trend, driven by factors such as cost reduction and efficiency, and cyclical fluctuations in the industry in the first three quarters of this year were smoothed out.
Haitong International released a research report saying that on October 12, Minister of Finance Lan Foan pointed out that it is proposed to increase large-scale debt limits to replace hidden debts in local government stocks at one time, step up efforts to support local authorities in mitigating debt risks, and that the relevant policies will be explained in detail to the public after following legal procedures. With the gradual implementation of subsequent policies, the commencement of construction in the infrastructure and real estate sector is expected to be repaired marginally, driving a marginal improvement in demand for excavators.