HK Stock Market Move | CHERVON (02285) rose more than 9% in the morning on news of rate cuts overseas boosting demand for real estate-related products. Domestic repair and maintenance demand is expected to emerge.
Spring Peak Holdings (02285) rose more than 9% in the morning session, as of the time of writing, up 9.11% to HK$22.15, with a turnover of HK$26.0747 million.
CHERVON (02285) rose by more than 9% in the morning, reaching a 9.11% increase by the time of publication, closing at HK$22.15 with a trading volume of HK$26.07 million.
On the news front, the Federal Reserve of the United States announced a 50 basis point cut in the federal funds rate target range. Huaxi pointed out that considering the overseas destocking cycle coming to an end in the tool channel, downstream channels are expected to enter a restocking period, the real estate-related demand is expected to pick up with the expectation of rate cuts in the United States, and domestic related companies are expected to see a turning point in revenue; in the long term, with the trend of electrification in outdoor power tools, the market share of related lithium battery-operated OPE companies is expected to continue to rise.
Huafu Securities previously pointed out that a large number of middle-class families in the United States live in suburban villas, and with the high labor costs in the United States, consumers have a strong demand for DIY home repairs, furniture making, and gardening. After the peak in new home sales in China, as the age of houses increases and labor costs in China rise, it is expected that there will be a demand for house repairs, DIY, and other related services in China, so opportunities for electric tool companies in China are also worth paying attention to.
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