HK Stock Market Move | WESTCHINACEMENT (02233) rose nearly 7% in the afternoon as Ethiopia's cement price control policy is halted, strengthening expectations of a cement price increase.

WESTCHINACEMENT (02233) rose nearly 7% in the afternoon, up 5.3% at the time of publication, trading at HK$1.39 with a turnover of HK$56.76 million. On the news front, according to media reports, the Ethiopian Minister of Trade and Regional Integration recently held a meeting and announced the discontinuation of the cement price limit policy implemented earlier on November 8, 24, allowing cement plants to independently decide on distribution to retailers, strengthening expectations of a price increase. It is reported that WESTCHINACEMENT's major presence in Africa is in Ethiopia, Mozambique, and Congo (Kinshasa); meanwhile, WESTCHINACEMENT also has production lines in Uzbekistan. Changjiang previously noted that the cement industry as a whole was under pressure in the first half of the year, and for WESTCHINACEMENT, domestic operations were under pressure while overseas operations saw an increase, resulting in a slight decline in overall performance. The firm pointed out that the company's capacity layout is gradually improving, with overseas markets being the core for growth.