On June 30, Weichai Power rose 3.5% in regular trading, trading at 34.3 HKD/share, with turnover of 356 million HKD.
On the news front, Morgan Stanley previously issued a research note indicating that the company's primary power source (natural gas engine) progress is faster than expected, with the first product set for launch by end of June. Small batch delivery has been moved up from Q4 to Q3, with at least 200 units expected to ship for the full year. Citi also reaffirmed its Buy rating, raising the target price to 50 HKD. Additionally, the stock had accumulated over 7% in losses last week due to escalating US-Iran geopolitical conflict and sustained selling by foreign institutions including JPMorgan and Wellington Management, creating technical rebound demand after being oversold.
Within the Construction Machinery and Heavy Trucks sector, Times Electric rose 2.95%, while Sinotruk fell 1.7%, Sany Heavy Industry fell 0.38%, Sany International fell 0.3%, and UISEE Technology fell 0.25%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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