HK Stock Market Move | Heavy truck concept stocks rebounded in the morning session, with Sinotruk Jinan Truck (03808) surging more than 6% during intraday trading. The recovery situation in the heavy truck industry is obvious.

The concept stocks of heavy trucks rose in the morning session. As of the time of publication, Sinotruk Jinan Truck (03808) rose by 4.21% to 22.3 Hong Kong dollars; China International Marine Containers (02039) rose by 3.45% to 5.4 Hong Kong dollars; Weichai Power (02338) rose by 3.73% to 12.24 Hong Kong dollars; Dongfeng Group (00489) rose by 1.4% to 2.18 Hong Kong dollars. In terms of news, according to data from the First Commercial Vehicle Network, the cumulative sales of heavy trucks in the Chinese market from January to August 2024 were approximately 624,000 units, which is basically flat compared to the same period last year. In July, sales were about 58,300 units, and in August, sales were about 61,000 units. Soochow expressed that with the overall improvement in the macroeconomic situation, the recovery in logistics demand for heavy trucks, and the sustained strong momentum in exports, the recovery of the heavy truck industry is evident. Sinotruk Jinan Truck stated that the sales of natural gas heavy trucks in the first 8 months increased by 68% year-on-year; in terms of the development of the natural gas heavy truck market, they believe that the sales trend of natural gas heavy trucks is somewhat correlated with the price difference between oil and gas. In the third quarter, as gas prices continue to rise, the penetration rate of natural gas heavy trucks has slightly decreased on a month-on-month basis, but natural gas heavy trucks still have certain economic advantages.