Hong Kong dry bulk shipping stocks higher CIMB maintain reduction rating

Source: Internet
Author: User
Keywords Hong Kong dollar coal shipping iron ore
Tags basic continued high higher import index stock stock gains
The Hang Seng Index followed overnight stock gains, continued its strong yesterday, and Hong Kong's dry-bulk shipping stocks surged for the second straight day, but CIMB maintained the ratings, saying coal, high stockpiles of iron ore, and the Chinese Iron and Steel Association's survey of iron ore irregularities and iron ore,  The flattening of domestic and import prices will put pressure on dry bulk freight charges during the summer months. CIMB's basic forecast is that China's iron ore imports will fall by 15.7% in the second half of 09, while coal imports will fall.  But with the global steel industry benefiting from stimulus measures, freight is not expected to plunge. In terms of shares, China Ocean (01919-HK) rose 5.27% to 9.38 Hong Kong dollars, while Pacific Shipping (02343-HK) rose 7.14% to 5.10 Hong Kong dollars, and the Chinese Ocean Development (01138-HK) rose 4.96% to HK $9.74.
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