Coal stocks led the declines in the Hong Kong market. At the time of writing,
Recently, 26 listed coal companies collectively released their 2025 performance forecasts. Due to shifts in industry supply and demand dynamics, coal sales volumes and average selling prices have decreased, leading to a year-on-year decline in the sector's overall performance. Among these companies, Panjiang Co., Ltd. and Huaihe Energy forecast profit growth. However,
Additionally, market attention is focused on the prospects for energy substitution. According to a report, Donald Trump informed aides of his willingness to end the war without reopening the Strait of Hormuz. Following this, international oil prices retreated in the short term, with both Brent and WTI crude oil futures falling over 1%.
Huatai Securities previously indicated that once the buffer of oil and gas inventories is depleted, the pressure to ensure power supply will compel Asia-Pacific countries to accelerate the substitution of oil and gas with coal for electricity generation.
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