HK Stock Market Move | Steel stocks mostly rose, with Angang Steel (00347) rising over 5% and Chongqing Iron (01053) rising over 4%.

Most of the steel stocks rose. As of the deadline for the report, Angang Steel (00347) rose by 5.63% to 2.25 Hong Kong dollars; CHONGQING IRON (01053) rose by 4.55% to 1.38 Hong Kong dollars; MAANSHAN IRON (00323) rose by 2.85% to 2.53 Hong Kong dollars. On the news front, Galaxy Securities believes that as steel demand transitions from real estate to high-end manufacturing, domestic manufacturing is expected to continue to upgrade, steel mills are expected to resume production, and there is rigid support for steel demand from the manufacturing industry. Under the influence of the "anti-insatiable" policy, supply-side reforms continue to advance, and corporate profits are expected to stabilize and rise. Infrastructure demand is expected to be concentrated, and total demand is expected to stabilize and rise in the future. As the process of manufacturing transformation and upgrading accelerates, the demand for steel in the high-end manufacturing industry is expected to marginally improve. In addition, benefiting from the continuous development of downstream industries such as aerospace, automotive manufacturing, home appliances, and replacement of old with new, the prospects for special steel consumption are good, and special steel companies are expected to achieve stable growth.