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Hong Kong stocks fluctuate | Marine transportation stocks fall in the afternoon, the high stock price increase may not meet expectations, and it is expected that the downward cycle mentioned by Morgan Stanley will continue.
Marine transportation stocks fell in the afternoon, as of the time of publication, cosco shipping holdings (01919) dropped by 3.48% to HKD 12.2; sitc (01308) fell by 2.43% to HKD 22.05; ooil (00316) fell by 2.34% to HKD 112.8; cosco shipping development (02866) fell by 0.91% to HKD 1.09.
Hong Kong stock market anomaly | marine transportation stocks generally rose in the morning with European block orders contracts rising more than 10% at one point, institutions said market expectations for the peak season remain strong.
Marine transportation stocks rose across the board in early trading. As of the time of publication, Dalian COSCO Shipping Holdings (02510) rose by 6.03% to HKD 4.57; sitc (01308) rose by 2.46% to HKD 22.95; ooil (01308) rose by 1.42% to HKD 114.4; COSCO Shipping Holdings (01919) rose by 0.96% to HKD 12.62.
Daiwa raised its rating on Orient Overseas (00316.HK) to "Outperform the market", with the target price increasing to 120 yuan.
Daiwa published a research report stating that Orient Overseas (00316.HK) has announced its third-quarter performance, and the bank is relatively positive on the outlook for high freight rates. Therefore, it has raised the group's earnings per share forecast for 2024 to 2026 by 29% to 95%, while upgrading the rating from "hold" to "outperform the market", with the target price raised from 105 yuan to 120 yuan. Daiwa expects that next year's industry freight rates will remain high, allowing Orient Overseas to potentially increase contract freight rates for its Europe and USA routes next year. Assuming the group's average freight rates remain stable year-on-year, it is expected that its profits will increase by 4% annually.
Harbour transportation stocks in the Hong Kong stock market are fluctuating and strengthening.
Gelonghui on November 1st: Cosco Shipping Holdings rose by over 6.5%, OOIL rose by over 4.5%, Sinotrans Limited, China Mer Port both rose by over 1.5%.
Hong Kong stock anomaly | Cosco Shipping Holdings (01919) rises by over 4% again, with third-quarter performance reaching a profit peak. Morgan Stanley predicts that the industry's downturn cycle will continue.
Cosco Shipping Holdings (01919) rose by over 4%, as of the time of publication, up 3.99% at HK$12, with a turnover of HK$92.0321 million.
Express News | Daiwa: cosco shipping holdings' third-quarter profit is strong but facing a downward cycle. Rated as "shareholding".
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