Changes in Hong Kong stocks | Most coal stocks rose, Yankuang Energy (01171) rose more than 4%, and institutions are optimistic about the value of coal's defensive dividends

The Zhitong Finance App learned that most coal stocks rose. As of press release, Yankuang Energy (01171) rose 4.2% to HK$8.44; South China Resources (01229) rose 3.64% to HK$0.285; Yancoal Australia (03668) rose 2.6% to HK$29.65; China Shenhua (01088) rose 1.9% to HK$34.8; China Coal Energy (01898) rose 1.16% to HK$8.73.

Dongxing Securities pointed out that it has both high dividends and multiple high dividends, and the value of coal's defensive dividends is prominent. The bank believes that under the multiple challenges of market adjustments, coal, as a representative of steady state and high dividends (stable competition pattern, low growth rate, stable cash flow, high dividends), plans to increase the frequency of dividends, and dividend sectors such as coal and state-owned assets have little risk background, and is still suitable as a solid foundation for investment income, and is particularly worthy of focus allocation.

Minsheng Securities said that the inflection point for thermal coal demand will arrive as summer temperatures rise, while the supply side tightens slightly, and prices are expected to rebound. The bank is expected to reach a high point during the peak of daily consumption in July-August. In terms of coking coal, with the establishment of the bottom of the price of thermal coal, the bottom of the price of coking coal is also expected to be established at the same time. Furthermore, uncertainty about the international situation has increased, and the value of stable and high dividends has increased.