Here's What's Hot Today in Hong Kong
28 September 2021
CNOOC Ltd (883 HK) Shares rose 5.1% yesterday and closed at a 2-month high. CNOOC announced yesterday that it plans to raise RMB 35bn (US$ 5.4bn) by listing on the Shanghai Stock Exchange.
SITC International Holdings Co Ltd (1308 HK), COSCO Shipping Holdings (1919 HK) Shipping stocks fell collectively yesterday. SITC shares declined 14.4% while COSCO shares declined 14.3%. Container rates have been on an uptrend following the surge in shipping demand due to congestions, weather conditions and labour shortages.
Huadian Power International (1071 HK), Huaneng Power International Inc (902 HK) shares declined 12.6% and11.8% respectively. Citi Research stated yesterday that both Chinese power-plant operators are likely to report losses in 3Q21 on rising unit coal prices.
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