Chinese cement producers, construction material suppliers trade higher on expectation of strong earnings, policy easing
STOCKS
Chinese cement producers, construction material suppliers trade higher on expectation of strong earnings, policy easing
STOCKS

Chinese cement producers, construction material suppliers trade higher on expectation of strong earnings, policy easing

 

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Shares of Chinese cement producers and building material suppliers trade higher, with CNBM up more than 5% in Hong Kong, China Resources Cement up 3.6%, Conch Cement up 3.4% and Huaxin Cement up 2.4%.

In the A-share market, construction companies and building material producers are among the best-performing sectors.

Essence Securities said in a note that, as the growth of China’s property sales has been slowing since March and the construction sector’s valuation has retreated by more than 20%, its current valuation has become attractive and given the expectation of more policy easing, the sector’s valuation will likely to rebound.

In addition, as property project completions improve, the construction material sector’s earnings results may show improvements, it said.