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Hong Kong stock sector tracking| The coal industry is gradually becoming "public utility", and the reshaping of sector valuation is underway. (Attached concept stocks)
It is expected that the recent interest rate cut in the USA will have limited impact on domestic coal prices.
Investors in Yankuang Energy Group (HKG:1171) Have Seen Incredible Returns of 573% Over the Past Five Years
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.
YANZHOU COAL MININ To Carry Out 13-for-10 Stock Split On August 7th, 2024
Hong Kong stock market anomaly: Coal industry concept stocks fell further in the afternoon, and the market has deepened doubts about the stability of coal companies' performance. Institutions state that the defensive properties of the sector are still pro
Coal stocks fell in the afternoon. As of press time, Mongol Mining (00975) fell 7.54% to HKD 7.48; Yancoal Aus (03668) fell 5.36% to HKD 34.4; China Shenhua Energy (01088) fell 4.98% to HKD 30.5; Yankuang Energy (01171) fell 4.52% to HKD 9.51.
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