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Hong Kong stocks fluctuate | Coal industrial concept continues to rebound recently, sector valuation reshaping is in progress, institutions say the industry will maintain tight balance in the next few years.
Coal industry stocks continued their recent rebound, as of press time, China Shenhua Energy (01088) rose 3.69%, to HKD 33.7; Mongol Mining (00975) rose 3.61%, to HKD 7.75; China Coal Energy (01898) rose 2.47%, to HKD 8.7; Yankuang Energy (01171) fell 1.51%, to HKD 10.08.
Mongolian Mining's Upcoming Board Meeting
MONGOL MINING (00975.HK) will hold a board of directors meeting on August 27th to approve the interim performance.
Mongol Mining (00975.HK) announced on August 12 that the board of directors will hold a meeting on August 27, 2024 to discuss and approve the company's and its subsidiaries' six-month interim performance as of June 30, 2024, and their proposal to distribute interim dividends (if any).
MONGOL MINING: DATE OF BOARD MEETING
gtja: Global perspective on the impact of the US economic downturn on the coal industry in china
The international coal price has a relatively weak impact on China mainly because it is not globally priced like crude oil and natural gas, especially in the USA, which is the largest variable in terms of marginal demand elasticity. China accounts for 56% of global coal demand and has an import dependence of only about 10%.
Coal industry concept stocks collectively rose. Yancoal Aus (03668) rose 3.64%. Institutions pointed out that as the strong season approaches, coal demand is gradually increasing.
Coal stocks rose collectively, with Hidili Industry (01393) up 3.95%, Shougang Res (00639) up 3.79%, Yancoal Aus (03668) up 3.64%, Mongol Mining (00975) up 3.12%, China Coal Energy (01898) up 2.46%, China Shenhua Energy (01088) up 2.26%, and Yankuang Energy (01171) up 1.37%. Everbright Securities said that the recent impact of safety supervision continues, coupled with the coming peak season, coal demand is gradually increasing, and the bank is still bullish on the support of peak season demand for coal prices at the end of August.
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