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Angang Steel Downgraded to Sell From Neutral at Goldman Sachs
Hong Kong stocks have seen fluctuations | Steel stocks fell across the board today as the overall winter storage situation did not meet expectations; Institutions indicate that the Industry is weak under a dual supply and demand weakness.
Steel stocks fell broadly today. As of the time of writing, Angang Steel (00347) fell by 5.41%, priced at 1.4 HKD; CHONGQING IRON (01053) fell by 4.44%, priced at 0.86 HKD; MAANSHAN IRON (00323) fell by 1.84%, priced at 1.6 HKD.
Steel stocks generally rose, with MAANSHAN IRON (00323) increasing by 8.76%. Institutions indicated that bullish macroeconomic factors have strengthened, providing support for steel prices.
Golden Financial News | Steel stocks rose across the board, with MAANSHAN IRON (00323) up 8.76%, CHONGQING IRON (01053) up 2.35%, and Angang Steel (00347) up 1.42%. Minsheng Securities stated that the old-for-new policy continues, and demand expectations are likely to boost. This week, the central bank held a routine meeting for the fourth quarter, increasing financial support for large-scale equipment updates and the old-for-new of consumer goods, enhancing efforts to revitalize existing commodity housing and existing land, promoting the stabilization of the real estate market. The National Development and Reform Commission indicated that this year will see an increase in the issuance of ultra-long special bonds, providing greater support for "dual-heavy" construction and enhancing construction efforts.
Angang Steel Co. Announces Successful Meeting Outcomes
Angang Steel (00347): Change of legal procedure agent.
Angang Steel (00347) announced that, according to the Securities Listing Rules of The Stock Exchange of Hong Kong Limited (Listing Rules)...
Hong Kong stocks movement | Some Steel stocks rise, the Steel Sector has a high proportion of undervalued stocks, and under Market Cap management, the valuation level is expected to recover.
Steel stocks have risen. As of the time of this report, CHONGQING IRON (01053) is up 4.21%, quoted at 0.99 Hong Kong dollars; MAANSHAN IRON (00323) is up 2.92%, quoted at 1.41 Hong Kong dollars; Angang Steel (00347) is up 2.65%, quoted at 1.55 Hong Kong dollars.
Strong Week for Angang Steel (HKG:347) Shareholders Doesn't Alleviate Pain of Five-year Loss
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