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Daiwa: Lowered ooil's target price to 110 Hong Kong dollars, downgraded to 'hold'.
Daiwa released a research report stating that Oriental Overseas International (00316) target price was reduced from HKD160 to HKD110, and rating was downgraded from "buy" to "hold", believing that the short-term catalysts are limited. The report pointed out that there was no progress in the Gaza ceasefire negotiations. In response to the development of the Red Sea situation, it is believed that the investment atmosphere of container shipping in the short term will continue to deteriorate. In addition, the Shanghai Export Container Freight Index (SCFI) began to decline after a 13-week increase, causing investors to worry about whether freight rates can continue to be high. Therefore, the bank believes that the short-term catalysts for the Oriental Overseas stock price are limited. The bank estimates that Oriental Overseas adjusted net profit for the first half of the year.
Hong Kong stocks in change: shipping shares continue to fall, geopolitical easing drives freight rates to fall. As for the supply risk of the industry, Morgan Stanley indicates that it is accumulating.
According to the Zhī tōng finance app, shipping stocks continued to fall. As of press time, OOIL (00316) fell by 4.89%, with a reported value of HKD 108.8. SITC (01308) fell by 2.74%, with a reported value of HKD 18.48. COSCO Shipping Holdings (01919) fell by 1.58%, with a reported value of HKD 11.22. Pacific Basin (02343) fell by 1.24%, with a reported value of HKD 2.39. In terms of news, geopolitical easing has driven recent freight rate declines. The market is more optimistic about the prospects of a new round of talks between Israel and Palestine, which has raised concerns about the resumption of shipping through the Red Sea, and European and American freight futures and spot prices have fallen back. July 1.
Hong Kong stocks are changing | OOIL (00316) opened nearly 4% lower, Q2 revenue increased by 14.4% year-on-year, and industry supply risks are accumulating, according to Morgan Stanley.
ooil (00316) opened nearly 4% lower. As of press time, it fell 3.85% to HKD 110 with a turnover of HKD 8.305 million.
Northbound funds| ICBC (01398) received nearly 0.5 billion yuan in additional holdings again while seeing a net buy of 0.171 billion yuan. Cosco Shipping Holdings (01919) suffered from selling off by domestic investors.
On July 12th, the Hong Kong stock market saw a net buy of 0.171 billion Hong Kong dollars by Northbound funds, with net sell of 0.224 billion Hong Kong dollars on the Shanghai-Hong Kong Stock Connect and net buy of 0.395 billion Hong Kong dollars on the Shenzhen-Hong Kong Stock Connect.
Stocks in Hong Kong are fluctuating: Cosco Shipping Holdings (01919) dropped more than 4%, leading the decline in marine transportation stocks. Hamas has preliminarily passed a ceasefire proposal, which may put pressure on shipping stocks, according to Da
According to the Wise News Finance APP, marine transportation stocks fell across the board in early trading. As of press time, COSCO SHIPPING Holdings (01919) fell 3.36% to HKD 11.52, OOIL (00316) fell 1.03% to HKD 115.1, and COSCO SHIPPING Development (02866) fell 0.98% to HKD 1.01. In terms of news, according to multiple media reports, a Hamas source has revealed that Hamas has tentatively approved the proposal for a ceasefire and prisoner exchange in Gaza, and has agreed to continue discussions with Israel on issues such as prisoner exchange during the 16-day period of the first-phase ceasefire in Gaza.
Hong Kong stock concept tracking | Houthi militants claim to have attacked ships in the Arabian Sea and the Aden Gulf, global shipping faces obstacles again on the South African coast (attached to concept stocks).
Due to the shipping company's attempt to avoid attacks in the Red Sea, the number of vessels taking the route around the Cape of Good Hope increased, but they encountered a sea storm.
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