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Hong Kong stock market closed on June 7th, with the Hang Seng Index falling 0.59%. Network technology and photovoltaic stocks declined, while Yisou Technology (02550) surged 91%.
Zhìtōng Finance APP learned that the market is focusing on the US non-farm payroll data for May to be released tonight. The three major indexes of the Hong Kong stock market opened high and drifted lower today, and the decline further expanded in the afternoon. The Hang Seng Tech Index fell more than 2% at one point and once again lost the 3800 level. At the close, the Hang Seng Index fell 0.59% or 109.85 points to 18366.95 points, with a total daily turnover of HKD 133.112 billion; the Hang Seng China Enterprises Index fell 0.68% to 6510.37 points; the Hang Seng Tech Index fell 1.78% to 3772.47 points. Looking at the whole week, the Hang Seng Index rose 1.59%, the China Enterprises Index rose 1.84%, and the Hang Seng Tech Index rose.
HK stocks rise: Lonking (03339) up over 4%, leading heavy equipment stocks. May excavator sales exceed expectations, and domestic sales in the industry continue to recover.
Heavy equipment stocks are on the rise. As of the time of publication, Lonking (03339) rose 4.43% to HKD 1.65; Sany Int'l (00631) rose 1.9% to HKD 5.35; Zoomlion (01157) rose 0.35% to HKD 5.8.
Hong Kong stock concept tracking | May sales of excavators exceed market expectations, institutions bullish on the growth rate of the construction machinery industry rebounding (with concept stocks).
Excavator sales in May exceeded expectations, and the market is accelerating its recovery.
Heavy equipment stocks rise together, Lonking (03339) up 4.61%. Institutions expect that the favorable real estate policies will promote the improvement of domestic demand for construction machinery.
Jingu Financial News| The heavy equipment stock collectively rose, Lonking (03339) rose 4.61%, First Tractor Stock (00038) rose 4.32%, Sinotruk (03808) rose 3.06%, Zoomlion (01157) rose 3.02%. Zhejiang Securities stated that, according to CME's estimate, excavator sales in May 2024 will be about 16,200 units, an increase of about 5% year-on-year, and the market is gradually recovering. The estimated domestic market sales volume is about 7,700 units, an increase of nearly 19% year-on-year, while the estimated export market sales volume is about 8,500 units, a decrease of nearly 17% year-on-year. It is expected that the domestic excavator sales volume in May will
HK stocks anomaly | Lonking (03339) rose nearly 7%, leading the construction machinery stocks. The domestic construction machinery market is stabilizing and overseas market is the focus.
According to Zhitong Finance APP, shares of construction machinery rose in the afternoon, as of press time, Lonking (03339) rose by 6.67% to HKD1.6; Sany International (02155) rose by 5.65% to HKD6.17; Zoomlion (01157) rose by 2.43% to HKD5.89; Sinotruk (03808) rose by 1.41% to HKD18.74. On April 28, Shanghai released a draft for soliciting opinions on subsidies for the renewal of 'National II' non-road mobile machinery. The maximum subsidy for excavators is 360,000 yuan. Soochow Securities pointed out that considering the timeliness of the policy, 2023 is used as the reference year for the performance forecast of construction machinery.
Despite Recent Sales, Lonking Holdings Limited (HKG:3339) Insiders Own 56% Shares but Recent Downturn May Have Set Them Back
Key Insights Lonking Holdings' significant insider ownership suggests inherent interests in company's expansion The largest shareholder of the company is Ngan Ying Ngai with a 56% stake Insiders
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