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Dividend Assets have become attractive again! The Hang Seng Index has dropped over 1400 points in the last five days, while high-yield stocks such as Coal Banks "refuse to correct."
① The Hang Seng Index has fallen more than 1,400 points in the past five days. Why do dividend-paying Assets remain resilient? ② High-yield stocks such as Coal and Banks "refuse to retreat". What bullish factors may continue to drive the market?
China Merchants: With the drop in gas prices and the promotion of price alignment, the profit turning point for city gas has already appeared.
With the continuous expansion of exploration and development and advancements in engineering technology, the yield and economic viability of unconventional Henry Hub Natural Gas are expected to continue to improve, likely becoming an important component of China's natural gas supply in the future.
Are Global Henry Hub Natural Gas prices about to rise? A significant increase in import volume is anticipated for Europe's summer procurement.
① Europe is experiencing a cold wave this year, coupled with the cessation of Henry Hub Natural Gas transit through Ukraine, leading to a drop in the region's natural gas inventory to 37%, far below the 60% of the previous two years; ② It is estimated that Europe needs to import an additional 250 batches of liquefied natural gas to replenish inventories to 90% before November; ③ On the other hand, the International Energy Agency warns that the liquefied natural gas market will continue to be tight this year, which will strongly support natural gas prices.
CITIC SEC: Changes in Consumer structure, the gas Industry returns to the right track while urban gas growth is moderate.
Looking ahead to 2025, the recovery of traditional demand and the "one city, one enterprise" policy are expected to drive a moderate increase in the sales volume of leading city gas companies. The recovery of gross margins and the growth in gas volume will help city gas performance regain growth, while leading city gas companies' valuations are generally at historical lows, highlighting the cost-effectiveness of investment.
Hong Kong stocks movement | Petroleum stocks continue to decline as OPEC decides to increase production as scheduled. In the short term, oil prices are still affected by tariffs and other factors.
The Petroleum stocks collectively declined. As of the time of writing, China Oilfield Services (00883) dropped 3.02%, priced at 17.32 HKD; PetroChina (00857) fell 2.41%, priced at 5.68 HKD; China Oilfield Services (02883) decreased 1.74%, priced at 6.23 HKD.
Oil Prices Drop To Two-Month Lows On US Fuel Stockpile Build
