Infrastructure stocks generally rose in early trading. As of press release, China Railway (00380) rose 5.22% to HK$4.03; China Alcoa International (02068) rose 3.48% to HK$2.08; China Metallurgical (01618) rose 3.53% to HK$1.76; and China Communications & Construction (01800) rose 2.13% to HK$3.84.
The Zhitong Finance App learned that infrastructure stocks generally rose in early trading. As of press release, China Railway (00380) rose 5.22% to HK$4.03; China Alcoa International (02068) rose 3.48% to HK$2.08; China Metallurgical (01618) rose 3.53% to HK$1.76; and China Construction (01800) rose 2.13% to HK$3.84.
According to a research report released by Guoxin Securities, it is predicted that the capital source for infrastructure investment in 2024 will be 15.44 trillion yuan, an increase of 8.5% over the previous year, and an increase of about 1.2 trillion yuan in incremental capital over the previous year. The bank pointed out that the lack of infrastructure projects outweighs the lack of capital; orders from central construction enterprises are resilient; international projects continue to pick up, and they are optimistic about “construction going overseas”; policy trends resonate with inventory cycles, and are optimistic about the industrial construction industry chain.
The bank pointed out that the scale of investment in major projects is running at a high level, and that ultra-long-term special treasury bonds support the growth of infrastructure capital, and predicts that infrastructure investment will maintain a slow growth rate throughout the year. Central construction enterprises have an advantage in undertaking major projects. Financing costs are lower than the industry average, and are expected to maintain continuous growth in orders and performance; as overseas orders continue to pick up, it is recommended to focus on the implementation of the performance of leading international engineering companies; policy trends resonate with inventory cycles, and are optimistic about valuation repairs in industrial construction-related sectors.