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A quick overview: Hong Kong stock market bullish and bearish stock list for October is out! Good performance, china-affiliated brokerage stocks continue to party, haitong sec soars 79%; positive restructuring news boosts chongqing iron with a 45% surge.
The Hang Seng Tech Index has experienced a significant drop this month, with a cumulative decline of over 5%; the Hang Seng Index and the A-share Index have fallen by 3.86% and 3.27% respectively.
Hong Kong stock anomaly | chongqing iron (01053) fell nearly 7% in the final trading session, with third-quarter revenue dropping by nearly 40%, resulting in a loss of 0.661 billion yuan during the period.
Chongqing Iron (01053) fell nearly 7% at the close, as of press time, down 6.72% to HK$1.11, with a turnover of 0.122 billion Hong Kong dollars.
Chongqing Iron & Steel's Q3 Loss Widens as Revenue Falls 39%; Hong Kong Shares Slip 3%
The steel sector in A-share market surged abnormally, with inner mongolia baotou steel union hitting the limit up.
November 1st, Inner Mongolia Baotou Steel Union hit the limit up, Chongqing Iron & Steel, Shengtak New Materials, Gan Su Jiu Steel Group Hong Xing Iron & Steel Co,Ltd, Xinjiang Ba Yi Iron & Steel and others rose.
Express News | gtja: Policies are expected to continue to strengthen, no need to be pessimistic about the later demand for the steel industry.
In the third quarter, the loss amount is close to the annual level of last year. How to solve the "dilemma" of the steel industry? Suggestions from the industry recommend actively reducing production.
① In the third quarter, losses in the steel industry intensified, with 21 out of 27 listed steel smelting companies recording losses, totaling over 14.5 billion yuan in losses, the quarterly loss total approaching last year's full year. ② Industry insiders believe that the main reason for the losses is the steel industry's own overcapacity, poor industry self-discipline, failure to actively limit production, product oversupply, continuously declining steel prices, slow decline in raw materials, and severe industry profit compression.
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