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Hong Kong stock concept tracking | Ministry of Commerce's 11 measures to support cross-border trade, the industry is expected to see a steady recovery (including concept stocks).
On July 25th, the Ministry of Commerce stated that it will focus on deepening pragmatic cooperation with financial institutions and expanding high-quality financial services in the field of commerce.
Hong Kong stock concept tracking | Red sea situation escalates again! Institutions: global marine transportation companies with European business will benefit significantly. (Attached with concept stocks)
Considering the current situation of long-term contract signing and the possibility of further tightening of marine transportation capacity, it is expected that global marine transportation companies with European business will significantly benefit and their performance is expected to improve in 2024.
Hong Kong stocks fluctuate | Port and marine transportation stocks plummet, sitc falls 9%, logistics transportation adjusts, marine transportation fees usher in inflection point.
On July 19, Port and marine transportation stocks continued to be weak, with Sitc International falling 9% and performing the worst, Sinotrans, China Shipping Development, and Qingdao Port falling more than 3%, and Pacific Basin dropping nearly 3%. In terms of news, the Block Orders index (Europe) main contract fell during the day, now at 3,630 points, a drop of nearly 10%. In addition, in mid-July, marine transportation fees saw a turning point, and the overall shipping market experienced a correction. The new period Shanghai Export Container Comprehensive Freight Index (SCFI) ended its 13-week consecutive rise.
Mid-day Review: All three major indexes dropped by about 2%; Technology, internet companies, real estate, and golden industrial concepts fell, while Pop Mart rose nearly 11% against the trend.
As of press time, the Hang Seng Index fell by 1.84%, the National Index fell by 1.94%, and the Science and Technology Index fell by 1.53%. Network technology stocks fell collectively, with jd.com and Netease falling by more than 3%, Alibaba falling by nearly 3%, Kuaishou and Baidu falling by nearly 2%, and Xiaomi, bilibili, and Meituan falling by more than 1%.
HK stocks abnormal movement | Marine transportation stocks continue recent decline. The SCFI index ended a 13-week consecutive rise with block orders contract prices falling more than expected.
Marine transportation stocks continued to decline. As of press time, Sitc International Holdings Co., Ltd. (01308) fell by 6.46% to HKD 17.38; Cosco Shipping Holdings Co., Ltd. (01919) fell by 2.93% to HKD 10.6; Ooil Limited (00316) fell by 2.83% to HKD 106.5; Pacific Basin Shipping Limited (02343) fell by 2.55% to HKD 2.29.
Global shipping prices are skyrocketing, raising concerns about cost inflation.
Global shipping market tension has sparked concerns about a return of inflation.
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