HK Stock Market Move | Coal stocks rise in the afternoon, MONGOL MINING (00975) surges more than 24%. Institutions are optimistic about reversing the plight of the coal industry with anti-inner-circulation policies.

Coal stocks rose in the afternoon, as of the deadline, MONGOL MINING (00975) rose by 24.41% to HK$9.48; SOUTHGOBI (01878) rose by 14.89% to HK$2.7; Yankuang Energy Group (01171) rose by 9.77% to HK$9.44; CHINA QINFA (00866) rose by 7.265% to HK$1.92; China Shenhua Energy (01088) rose by 5.41% to HK$35.1. On the news front, in the afternoon of July 22, the main contract of coking coal futures hit the limit up at RMB 1048.5 per ton, with an increase of 7.98%. Zheshang pointed out that the current coal industry is once again faced with oversupply, companies are caught in inefficient vicious competition, and the government emphasizes "anti-internal circulation". The expectation of subsequent policies being introduced has increased, and it is hoped that the industry dilemma can be reversed through measures such as production restrictions, optimization of production capacity, and curbing low-price competition. From the performance of the coal sector after the introduction of supply-side reform policies, it can be seen that policies have a significant impact on the sector's market, maintaining a "positive" industry rating.