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HSBC Global Research reported that both ANGANG STEEL (00347.HK) and MAANSHAN IRON (00323.HK) reported net losses last year, in line with the profit warnings they disclosed at the end of January this year. Their steel gross margins fell QoQ in 4Q23, missing the broker's expectations.HSBC originally expected a major cut in ste...
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The HSI picked up 275 points or 1.7% to close at 16,438. The HSCEI climbed 110 points or 2% to close at 5,672. The HSTECH gained 88 points or 2.7% to close at 3,412. Total market turnover for the day amounted to $102.377 billion.It was reported that BABA-SW (09988.HK) rebooted free internal staff transfers and changed its listin...
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Hong Kong stocks increased significantly in the morning session. The HSI mounted 376 points or 2.3% to 16,539 at midday. The HSCEI gained 152 points or 2.8% to 5,715. The HSTECH climbed 125 points or 3.8% to 3,449. The total half-day turnover of the market amounted to $57.53 billion.BABA-SW (09988.HK) advanced 4.2% after it rebo...
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ANGANG STEEL (00347.HK) issued a profit warning expecting a loss of approx. RMB3.257 billion in 2023, as compared with a net profit of RMB108 million in 2022. In 2023, the steel industry remained in a weak market condition. The downstream demand for steel products continued to be low, leading to fluctuating steel prices at a low...
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ICBC (01398.HK) (601398.SH) and Angang Group, the parent company of ANGANG STEEL (00347.HK) (000898.SZ), signed a strategic cooperation agreement. The two sides will focus on comprehensive cooperation in the areas of green and low-carbon, digital technology, and ecological construction of the industrial chain.~AAStocks Financial...
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