Steel prices continued to rise positive Anshan
Iron and Steel
The US Federal Reserve as market expectations, raising interest rates quarter of PCT. As the rate hike is expected to have been fully digested by the market early in the morning, I believe investors will focus more on the contents of the subsequent statement to determine the rate hike next year.
US stocks continue to record high, but investors on the mainland stock market plunge a greater concern, especially in the control of risk capital issues. Evergrande Life's entrusted stock investment business was halted after Qianhai Life was stopped to carry out the universal insurance business, reflecting the intention of the central authorities to tighten control and control. In the future, I believe there will be more measures to be introduced, causing a short-term negative impact on A shares.
Although the Hong Kong stocks 23,000 point resistance is very large, the mainland stock market adjustment, also follow the fall, but if the A shares short-term no shock under the plug, Hong Kong stocks can be expected to keep above 22,000 points. Anshan Iron and Steel (00347.HK) first quarter earnings rose 2.1 times to 977 million yuan; single total third quarter, earnings rose 1.6 times to 677 million yuan.
In the Iron and Steel Logistics Committee recently released the latest steel industry PMI index, 51% in November, up 0.3 percentage points from the previous month, reaching the highest point since May this year. Moreover, according to the Mainland, "Futures Daily" reported that there will be a thorough investigation of Tangshan Iron and Steel, some affected by the closure of steel mills, and increased steel prices. Affected by the incident, the Shanghai Futures Exchange rebar futures contract was up 6.5 percent, the highest since March 2014 high, then continued to rise for several days, the news to stimulate the performance of steel stocks. Anshan Iron and Steel in the first three quarters of the ideal, supported by a number of positive factors, the stock has been rising for days, but the rally is not done, do not rule out further rise. Can be purchased at current prices, the target of 5.8 Hong Kong dollars, below the 4.7 stop loss.