HK Stock Market Move | Pacific shipping (02343) surged nearly 4%, with a 20% year-on-year increase in net profit last year. The BDI index hit a three-month high.

The Pacific Shipping (02343) rose nearly 4%, up 3.75% at the time of publication, at a price of 1.66 Hong Kong dollars, with a turnover of 40.1547 million Hong Kong dollars. In terms of news, The Pacific Shipping recently released its annual performance for the fiscal year ending December 31, 2024, with revenue of 2.582 billion US dollars, an increase of 12.41% year-on-year; net profit attributable to shareholders was 132 million US dollars, an increase of 20.4% year-on-year; basic earnings per share were 2.54 US cents; and a final dividend of 5.1 Hong Kong cents per share is proposed. In addition, on March 3, the Baltic Dry Index reported 1276 points, reaching a new high since December last year, up 3.82% from the previous value, and rising for the 13th consecutive day. Merchants Futures believe that affected by the global economy and the situation in the Middle East, demand for bulk commodities is still relatively low, and the global economy is in a process of repeated shock absorptions. The BDI is expected to show an intensifying trend of fluctuations in the short term. However, with the improvement of the Chinese economy, the BDI is expected to trend higher in the medium to long term.